The Greens and the Coalition have united to delay a vote on the Labor government's $10 billion Housing Australia Future Fund, pushing the legislation at least a month away from a final decision. The move leaves the government's key election promise stuck in parliamentary limbo.
Labor attempted to bring the bill to a vote this week but faced combined opposition from the Greens and Coalition, who teamed up to prevent a final decision. Government Senate leader Penny Wong criticized the Greens, accusing them of prioritizing media stunts over housing for vulnerable women and children.
Greens Senator Nick McKim defended the delay, calling the fund a 'steaming pile of neo-liberal rubbish' that does not guarantee the construction of a single house. The Greens demand increased spending and stronger renter protections, while the Coalition argues the fund would worsen inflation.
The fund would invest $10 billion and use returns to build social and affordable housing, capped at $500 million annually. The government claims it would create 30,000 homes in five years, including 20,000 social housing units and 10,000 affordable homes for frontline workers. A concession ensures at least 1,200 homes per state and territory.
The Greens oppose the fund's structure, arguing housing should not rely on investment returns. They call for $5 billion in direct annual government spending instead. The bill will not be considered again until mid-June at the earliest.
