Labor pledges climate action in budget reply

With the frequency of natural disasters accelerating and posing a great threat to the future of housing, and mounting concerns over more defaults following the recent flood event, Mr Albanese mentioned climate change six times in his speech.

“Climate change is here and its consequences are devastating,” Mr Albanese said.

“We will act on climate change and seize the chance to transform our country into a renewable energy superpower.”

Speaking on his recent visit to the northern NSW, following the February flood event, Mr Albanese said Labor would be a government “ready to roll up its sleeves” and “tackle the challenge of climate change”.

“We will establish a Disaster Ready Fund, because Australians deserve a plan to mitigate the ever-intensifying impact of natural disasters,” he said.

“We can revitalise Australian manufacturing and power that manufacturing with Australian made renewable energy.

“We’ll create 604,000 new jobs by 2030, with five out of every six in the regions, and lower power bills for households and businesses alike.”

Affordable housing

While the speech made little mention of how the government would tackle the issue of affordable housing, Mr Albanese did mention it was part of the Labor government’s policy.

“Working together, we can build a better future… Building more affordable housing,” Mr Albanese said.

Having access to a “safe and stable place to grow up” is core to Labor’s position on affordable housing, previously pledging the $10 billion Housing Australia Future Fund, which will build 30,000 new social and affordable housing properties in its first five years, and create thousands of jobs.

Investments returned from the fund will be transferred to the National Housing Finance and Investment Corporation (NHFIC) to pay for social and affordable housing projects.

The fund will see, over the first five years of investment, 20,000 social housing properties and 10,000 affordable homes for frontline workers, which it says will support 21,500 jobs in construction.

The Labor government also previously pledged its regional housing guarantee promising 10,000 places a year for families in regional areas and eligible buyers to purchase a first home with a deposit as low as 5 per cent, without needing to pay lender’s mortgage insurance.

The Labor government would provide a guarantee of up to 15 per cent of the property purchased, as well as triple the number of places that regional residents received under the government’s current measures last year.

Supporting small business

The speech outlined the struggles faced by Australian businesses during the pandemic and pledged for a “better future”.

“Too many businesses can’t find skilled staff,” Mr Albanese said.

“We’ll be a government that backs the aspirations of all Australians: to find a good job that pays a fair wage, to gain an apprenticeship or start their own small business.”

Improving energy costs surrounds the Labor government’s small-business policy, committing towards renewable investments.

“Labor’s plan for cheaper renewable energy will reduce energy costs for small businesses,” the policy stated.

“It goes on to say Labor will reduce the cost of Electric Vehicles – providing the opportunity for small businesses to upgrade their fleets and reduce their fuel costs.”

With the pandemic fueling a skills shortage, Labor says it will prioritise “recruiting and retaining” skilled workers.

“Our plans for secure work and more opportunities for training with more university places and 465,000 fee-free TAFE places, and the creation of Jobs and Skills Australia,” Mr Albanese delivered in his speech.

With the federal election around the corner, Mr Albanese called for the campaign to start “now” and “let the people of Australia decide”.

[Related: Labor promises ownership scheme for regional FHBs]