Why can’t we do this?
How Superannuation Fund Profits Could Help Solve Our Housing Problem.
Last night Housing Minister Chris Bishop confirmed the Government will immediately scrap the First Home Grant, a subsidy of up to $10,000 that some first home buyers were able to put towards a first home deposit. He said cancelling the scheme was “expected to generate savings of $245 million over a 4 year period” and the Government would be directing $140m of that money to Community Housing Providers with the expectation they would deliver 1500 new social housing places over the forecast period.
But here’s my question for Mr Bishop.
Why does financing of housing in our country have to be an either / or choice? Why can’t we build new homes AND social housing at the same time?
I know the immediate response to this question is “Where would the money come from?”