Unlocking much-needed housing investment will be on the agenda at an investor roundtable hosted by Treasurer Jim Chalmers.
The first of the Treasurer’s Roundtables with private sector representatives will focus on housing and finding financing solutions to address Australia’s affordable housing crisis.
Labour’s National Housing Deal is designed to build one million new homes over five years from 2024, although Greens-commissioned Parliamentary Library analysis found just 2% of that would be affordable for low income people.
Participants in Friday’s event in Sydney will include the CEOs of the big four banks and the head of Australia’s sovereign wealth fund, Raphael Arndt, while ACT Chief Minister Andrew Barr will represent the states and territories.
Dr. Chalmers is keen to remove the barriers that prevent pension funds and big banks from investing in housing.
He said influential investors could help solve some of Australia’s biggest problems.
“We have identified a number of areas where we believe Australians can benefit most from more targeted institutional investment in our national priorities, including housing supply and affordability, energy transition, manufacturing and digital economy,” he said.
“Starting with housing, we will work more closely than ever with major investors, major banks, global asset managers and pension funds to promote greater investment in these priority areas.”
Dr Chalmers said the partnership between investors and government could bring benefits to both shareholders and the nation.
The round tables will continue next year with a look at digitalization and sustainable energy.
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