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On June 17, the Australian Government said it would invest an additional 2 billion AUD (1.4 billion USD) to build thousands of new affordable homes nationwide, as people in the country struggle with rising living costs.
According to ABC, Prime Minister Anthony Albanese said the money will be disbursed before June 30, 2025. Each state and territory will receive a base grant of AUD 50 million, with the remainder distributed on a per capita basis.
The additional $2 billion investment takes the government's investment in social housing to more than $9.5 billion in the 2023 financial year to June 30.
The government has proposed setting up a $10 billion fund to build at least 30,000 new social housing homes, but the proposal is facing opposition from some MPs in Parliament .
Australia is facing a cost of living crisis due to persistently high inflation. In May, the government pledged $14.6 billion to provide financial support to families and businesses over the next four years.
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