HOUSING AUSTRALIA FUTURE FUND BILL
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WHAT IS IT?
* The $10 billion will be leveraged and invested, with the returns to be put towards building social and affordable housing, up to $500 million a year.
* The government says it will build 30,000 new social and affordable housing properties in the first five years.
* Each state and territory will receive at least 1200 new affordable homes under a deal struck between the government and Tasmanian senator Tammy Tyrrell.
WHERE PARTIES STAND:
* The government needs the votes of 11 Greens and two crossbenchers to pass its legislation in the Senate, with the coalition opposed.
* The two Jacqui Lambie Network senators will support the bill after Senator Tyrrell secured a guaranteed 1200 affordable houses for every state and territory.
* Independent senator David Pocock is pushing for more investment if the fund makes more than $500 million in a particular year, and for the money to be indexed in line with inflation.
* Senator Pocock says he won't stand in the way of the bill passing if the government doesn't come to the table.
* The Greens are withholding their support, pushing for a bigger housing package and a national rent freeze.
*The coalition is voting against the fund, saying the money that needs to be borrowed will increase inflation and interest rates.
Australian Associated Press
