Greens to support $10bn housing fund of Labor

After months of difficult discussions, the Greens have chosen to support the bill to establish a $10 billion Housing Australia Future Fund. This decision comes after the Greens bowed to the demands of the Albanese administration. This makes it absolutely certain that the bill will receive approval from the Senate.

On Monday, the head of the Green Party, Adam Bandt, and the party’s housing spokesperson, Max Chandler-Mather, made the announcement that the Greens, a very minor political party, would support the measure if an additional one billion dollars was granted for public and community housing.

The Prime Minister, Anthony Albanese, made a commitment in June to provide an additional $2 billion for social and cheap housing. However, the Greens decided not to embrace the Prime Minister’s promise and proceeded to block the bill with the backing of the Coalition while requesting that rents be frozen. In June, the PM made commitment to provide an additional $2 billion for social and affordable housing.

Bandt told reporters in Canberra that the minor party had agreed to support the bill because there was going to be $3 billion spent on public, social, and inexpensive housing “that is not dependent on a gamble in the stock market.” Bandt was referring to the fact that the money was being spent on public, social, and affordable housing. Bandt was making a point about the fact that the funding for these kinds of housing is not contingent on the performance of the stock market.

According to what he said, the Green Party was not able to persuade the government to change its stance on rent limitations or rent freezes.

Chandler-Mather, who wrote in June for Jacobin that allowing the legislation to pass “would demobilize the growing section of civil society” furious about poverty, declined to reveal if he had pushed the compromise to the Greens party room. Chandler-Mather wrote that allowing the bill to pass “would demobilize the growing section of civil society” outraged about poverty. Chandler-Mather wrote for Jacobin that if the measure were to pass, it “would demobilize the growing section of civil society.” Chandler-Mather made this statement in his essay.

Chandler-Mather has refuted claims that she has threatened to scuttle the bill in the event that Labor is unwilling to impose a freeze on rent hikes.

He continued, “We said we would negotiate in good faith,” which translates to “honest negotiations,” and he added that the statement was made. We sought more money for public and community housing, in addition to action on renters’ behalf, and we also advocated for community housing.

We were successful in obtaining the cash, and at this time, our primary focus is on working toward the goal of putting an end to any future increases in the rent that may occur. We have not even the slightest bit slowed down.

During the given time for questions, Albanese voiced his contentment with the fact that the Haff bill “now has majority support in the Senate.”

Albanese extended a personal thank you to Bandt “for the constructive discussions that we have had” and then went on to accuse the Coalition of having “great irrelevancy in Australian politics” due to their decision to oppose the bill. Bandt retorted by stating that he valued Albanese’s sincere gratitude to him personally.

The $10 billion future fund’s primary objective is to facilitate the development of an extra 30,000 social and affordable housing units. It was strengthened after months of negotiation, during which Labor made a pledge to legislation to ensure that the fund will spend at least $500 million of its revenues each year. This promise was included in the legislation. One of the clauses that contributed to the document’s overall robustness was this one.

Despite the fact that the national cabinet voted in August to limit rent increases to once per year and keep them to a maximum of 1%, Chandler-Mather continued to warn that Labor was abandoning tenants by allowing hikes of an unlimited amount. She said this despite the fact that rent increases would be capped at 1%.

During the sitting weeks of the month of October, the bill, which Albanese had warned had the potential to be a trigger for a double dissolution, was going to be addressed once more. Since it has the support of the Labor Party, the Green Party, the Jacqui Lambie Network, and David Pocock, there is a strong possibility that it will be approved by parliament by the end of this week.

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