Billions to go to ‘boring but essential’ infrastructure
The next federal budget will allocate billions of dollars to the “tedious but necessary” infrastructure needed to build new homes.
Finance Minister Jim Chalmers will present the Albanian government with its fifth budget on Tuesday night and is widely expected to try to convince voters that the dream of home ownership is still alive.
The government maintains that its primary focus in the upcoming budget will be to remove homeownership by increasing supply.
The budget promises to build on state and territory efforts to liberalize planning and zoning laws by eliminating red tape that hinders modern construction methods such as modular housing.
The latest announcement is an extra $2 billion to be allocated over four years to finance critical infrastructure such as roads, water, electricity and sewers, without which new homes cannot be built.
This is expected to facilitate the construction of up to 65,000 new homes.
Local governments and government service providers are set to receive the money needed to undertake these projects, with $500 million earmarked specifically for the Australian region.
Housing Minister Clare O’Neil said the funding was part of the government’s investment in “tedious but necessary” work that boosts housing supply.
“This critical investment will literally lay the foundation for our country to build more homes, because more housing supply means more housing affordability,” he said.
Dr Chalmers added that the government’s housing plan was pro-aspiration and pro-investment.
“It’s very difficult for a lot of Australians right now to get into their own home and move forward, and that’s why we’re investing in supply,” he said.
“We are approaching this housing issue responsibly from every angle, and increasing supply is at the heart of that.”
Tuesday’s financial plan will also set aside more than $387 million for the CSIRO.
The four-year investment aims to ensure Australia remains at the forefront of public research in science and technology.
But the funds cannot change the fact that the country’s leading research institution is suffering serious staff losses, according to the Community and Public Sector Alliance.
CPSU secretary Susan Tonks said “1,150 people have been made redundant at the CSIRO since February 2024.”
“While this funding increase will not change the reality for scientists who have lost their jobs or face immediate redundancies, it will be vital in preventing further job losses.”
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