There are two outcomes to the HAFF with public houses being built. With $13 billion being invested to the Future Fund (which is very much stock market style) and $500 million each year being disbursed into actual Social and Affordable Housing which is not properly defined according to Swollen Pickles, it’s either that….
1. Only 1666 quality houses would be built every year, meaning 8,330 houses are built in the next five years or less than 30,000 homes built by 2041.
2. With the 30,000 homes being built in the next 5 years, all of those homes would be tin sheds because it would cost the government $83,333.33 to build each shed. By 2041, there would be 108,000 tin sheds being built if they kept the same rate from this bill.
Either way, the CFMEU wants the government to build 750,000 quality affordable homes by 2041, which the HAFF is not anywhere near close to being able to close the housing gap.
https://www.sbs.com.au/news/article/labors-housing-bill-set-to-become-law-after-deal-struck-with-the-greens/6pcbwqlw8
https://www.theguardian.com/australia-news/2023/jul/25/super-profits-tax-australia-proposal-build-homes-construction-union
