Business Council Proposes $10 Billion Fund to Tackle Australia's Housing Crisis

The plan aims to incentivize states to streamline housing supply and reform stamp duty, addressing the urgent need for 1.2 million new homes by 2030.

Business Council of Australia has proposed a $10 billion national fund to encourage states to remove regulatory barriers and expedite housing projects.
The plan includes transitioning from stamp duty to land taxes, which could enhance economic growth and increase tax revenue over a decade.
Key recommendations involve boosting skilled migration and harmonizing trade licensing to address labor shortages in the construction industry.
The proposal echoes successful 1990s reforms and seeks to replicate their economic benefits by rewarding states for implementing necessary changes.
Labor's existing policies and funding commitments are contrasted with the Coalition's plans, highlighting ongoing political debates over housing solutions.