The Australian government is launching a $2 billion infrastructure fund to unlock the construction of 65,000 new homes across the country.
Funding for the scheme will be included in Tuesday’s budget with a quarter of it devoted to regional Australia.. The Local Infrastructure Fund is aimed at building infrastructure, such as roads, water and power, which would have otherwise prevented housing development.. The funding will be directed to local governments and state utility providers.. Of the four-year, $2b package, $500m has been reserved for housing development in regional areas.. The government says it hopes the package
will support the construction of 65,000 new homes over 10 years.. “In this Budget, we’re investing billions of dollars to build more homes for Australians,” treasurer Jim Chalmer said.. “Right now, it’s too hard for too many Australians to get into their own home and get ahead and that’s why we’re investing in supply.. “Our housing plan is pro-aspiration and it’s pro-investment.. “We’re coming at this housing challenge from every responsible angle, and boosting supply
is central to that.. The government touted that the fund had taken its spending on housing to $47b since coming to government.