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MYEFO and housing policy

Good afternoon members,

As you will probably be aware, the Australian Government published the mid-financial year economic and fiscal outlook (MYEFO) earlier today. 

The key details of note for housing stakeholders are as follows:

1. The one year extension of NPAH confirming $117.2 million for the 17/18 financial year.

2. Arising from the work of the Affordable Housing working Group, "the Government will establish an Affordable Housing Implementation Taskforce (the Taskforce). The Taskforce will investigate ways to harness private sector investment through the design of a bond aggregator that would source funds in aggregate from wholesale markets and issue bonds to investors." No dollar figure is given in relation to budget allocation for the project. CHIA interprets this as good news as it suggests that the project cannot be funded from Treasury's existing allocation and new monies will be made available. 

3. AHURI has received a further 12 months funding. "The Government will provide $1.4 million in 2017-18 to extend funding for the Australian Housing and Urban Research Institute (AHURI) for a further 12 months." CHIA also sees as a very positive development the announcement that "The Government will also transfer policy responsibility for AHURI to the Treasury portfolio from the Social Services portfolio from 1 July 2017. This transfer will better support the Government’s work with the states and territories on policies to improve housing supply and urban planning through the Council on Federal Financial Relations and reflects the wider economic importance of housing policy."

Finally, CHIA would like to thank members for their support in 2016 and wish you all a merry Christmas and a happy new year. 
 

Copyright © 2016 Community Housing Industry Association, All rights reserved.


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