Government responds to Senate inquiry on HAFF Bill

The Albanese government has responded to the recommendations made by the Senate economics legislation committee report in regard to the Housing Australia Future Fund (HAFF) Bill 2023 and its related bills.

Out of the 13 recommendations given in the Australian Greens Dissenting Report, the federal government has moved to only support two of the recommendations: that the HAFF Bill should be amended to guarantee an ongoing minimum level of housing funding (indexed to the Consumer Price Index) and that the HAFF Bill should be reviewed within two years of its commencement.

The Albanese government has opted to not support the recommendations to divest funds into social and affordable housing, to lift the housing funding delivered through the package to a minimum of $5 billion per year, and the doubling of the Commonwealth Rent Assistance rate.

All other recommendations made in the Australian Greens’ report have been noted, partially supported, or supported in principle.

The Albanese government has also rejected the recommendations from senator David Pocock to increase the initial capital investment in the HAFF Bill to $20 billion, the removal of the restriction that the “staff assisting” the National Housing Supply and Affordability Council to be “APS employees in the Department”, and the reinstatement of the NHFIC’s research function under section 8 of the bill.

The only recommendation from Senator Pocock to have full support from the government was the initial review period for the HAFF to be brought forward in order to align with the first review of the Housing Supply and Affordability Council to be “undertaken as soon as possible after 1 July 2026”.

Recommendation 2 by senator Lidia Thorpe – the removal of the $500 million annual cap to ensure that all returns go to housing – was the only recommendation to be fully supported by the federal government.

All other recommendations made by Senator Thorpe have either been noted or not supported by the government.

Specifically, the recommendations that would ensure that no money under the National Housing and Homelessness Agreement is cut and to link the HAFF package to a new National Housing and Homeless Agreement were not supported.

The Albanese government has also moved to not support the significant restructuring of the Housing Supply and Affordability Council that would see individuals who have lived experience of housing stress, including First Nations representatives, to have input.

[RELATED: Housing fund applications open January 2024]

Adrian Suljanovic is a journalist at Broker Daily with more than two years experience reporting on all facets of the third party distribution channel.

Adrian has written for a range of business and finance titles including IFA, Investor Daily and Lawyer’s Weekly before joining the mortgages team in 2022.

He graduated from the University of Wollongong in 2021 gaining a Bachelor of Communication & Media with a major in Digital & Social Media.

E-mail Adrian at: This email address is being protected from spambots. You need JavaScript enabled to view it.