Interview with Laura Jayes on Sky News

Subjects: Labor’s housing fund failure, Build to Rent

E&OE………

Laura Jayes

Let's bring it back home now. I've got to talk housing. We haven't spoken about this for a while on this program in its entirety, because remember, there is that goal of building more than a million new homes within five years. We are certainly not on target. None of the Premiers around this country think that that target can be reached either. I want to bring in now Andrew Bragg. Andrew Bragg, great to see you, I appreciate your time. You're the Shadow Housing Minister. This obviously has been very difficult from the start. What portion of the blame do you lay at the feet of the states and councils?

Senator Bragg

The government's housing program has been a disaster. It has $10 billion bucks. It's built a handful of houses in two years, and now it's buying existing houses. So, if you go to an auction, you might see Albo there with a paddle competing against you for an auction. That's how bad and desperate it's all become. In terms of the overall housing target, no state or territory is on track to meet their target. And so, the whole thing has been a complete disaster so far.

Laura Jayes

What's the biggest impediment as you see it?

Senator Bragg

Well, I just don't think the government knows what it's doing. I mean, it's very confused. One day it says it doesn't like red tape. The next day it says it has a big housing bureaucracy. So, it's very confused market signals. And so ultimately, unless the government is prepared to be on the side of supply and development and to be a 'yes in my backyard' style approach, then I just don't think that the states are going to move the needle on it.

Laura Jayes

Well, Chris Minns is moving the needle, to be fair, isn't he? He's announced that...

Senator Bragg

He's trying.

Laura Jayes

Sure. And the states have really got all the power here. So, is that the example, the New South Wales example?

Senator Bragg

I think Chris Minns is definitely saying the right things. But again, the data shows that New South Wales is not on track. And I don't think that the talk really matches the action here. So, in Canberra's case, they have a $10 billion scheme that doesn't build many houses. It's had years now to operate. And so, the government, if it wanted to fix the problem, would be working with developers, tradies, and suppliers rather than trying to solve the problem itself, which has been one of the greatest public administration failures in my lifetime.

Laura Jayes

Wow. It's a big call. But wasn't there a fair run up to this? The other side of politics, your side could be blamed, too?

Senator Bragg

But we didn't have a $10 billion scheme that didn't build any houses. I mean, under the former Coalition Government, you were getting on average 200,000 houses a year, each year. Under this government, you're getting about 165,000 houses each and every year.

Laura Jayes

Isn't that part of the problem, though, as well, Andrew? I mean, you need to enable the private sector to be building these homes rather than throwing taxpayer funds at it. So, have the Liberals had a change of heart on Build to Rent?

Senator Bragg

Well, we don't think that it's appropriate for Cbus and BlackRock to become perpetual landlords. We think Australians want to own their own houses, not rent them out from big fund managers. That's not our policy. And I think it's culturally jarring, frankly. So, we won't be doing that. We'll be putting people at the forefront of our policy formulation, trying to get the houses built. I mean, I understand that every time an apartment block is vetoed, under 40s look at it and think, well, that's a whole lot of houses that I could have lived in or my family could live in...

Laura Jayes

That's right.

Senator Bragg

So, we've got to be on the side of supply and development, even if that means some discomfort for the NIMBYs.

Laura Jayes

If it's culturally jarring, aren't you ignoring the fact that perhaps younger people these days are more accepting of renting than the older generation?

Senator Bragg

There's no problem with renting, but the idea that it needs a tax cut that is only available to foreign fund managers, I think, shows how lazy Labor has been in putting together their housing policies. They're obsessed with giving tax cuts and handouts to the super funds and the fund managers. We just want to see individual Australians in the vanguard of Australia's housing policy. We don't believe that large corporations should be owning a lot of Australian real estate. We just don't think that's the way to go.

Laura Jayes

Always good to talk to you. It's been a while, Andrew. Thanks so much. We'll check in soon.

Senator Bragg

Thanks, Laura.

Laura Jayes

Andrew Bragg, he's the Shadow Housing Minister.

[Ends]

‍