Help to Buy scheme set to pass Senate after Greens roll over
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The news: The Greens will back the Albanese government’s Help to Buy scheme, despite failing to extract any concessions over a plan they had criticised heavily.
The numbers: Under the scheme, up to 40,000 first home buyers would be able to co-purchase homes with the government.
The context: Flanked by his housing spokesman Max Chandler-Mather on Monday, Greens Leader Adam Bandt confirmed he would back the plan after having “pushed as far” as he could to amend it.
But it’s unlikely to bring a fractious debate on housing to an end, with Bandt promising to “take the fight [over housing] to the next election”.
The scheme was opposed by the Coalition, but with a number of crossbenchers backing the plan, the Greens were the only hold-outs. Their support means it will pass the Senate this week.
The minor party managed to extract an additional $3 billion on social and affordable housing last year when the government pushed through its signature Housing Australia Future Fund.
But Labor refused to negotiate this time around, leaving the Greens with the option of backing a bill they criticised as not going far enough or sinking it.
They had called for reforms to negative gearing and capital gains tax concessions before reducing their demands in November, calling for 25,000 social and affordable homes.
After Housing Minister Clare O’Neil refused those demands, the Greens confirmed they would pass the bill unchanged.
What they said: “There comes a point where you’ve pushed as far as you can. We tried hard to get Labor to shift on soaring rents and negative gearing, but we couldn’t get there this time,” Bandt said.
The source: Greens press conference
