Barbara Pocock

Labor's working for banks & wealthy property investors not renters or FHBs. Without tackling the root causes - tax breaks for wealthy property hoarders & lack of social & affordable housing - house prices will continue to spike, and banks will continue to rake in the profits.

This is the story of the last few years in a nutshell - misery for mortgage holders & renters & obscene profits for banks. Labor’s policies like the 5% deposit scheme & the $181b tax breaks for property hoarders - are driving up house prices while the banks take all the profit.

CBA has raked in $5.4bn in profit in half year results while ANZ's profit rose to $1.94bn & the average mortgage is up $70,000 in last 12 months. It's no secret that in a housing crisis the big banks’ obscene profits come directly from mortgagees & renters.

Rather than giving billions of tax breaks to wealthy property investors, the government needs to cap rents and invest directly in social and affordable housing, renting it to people who need it at prices they can actually afford.

Property investor lending increased by 31.8% over the year, the clearest sign yet that the worst of Australia’s housing crisis is yet to come. Renters are footing the bill for a market stacked in favour of investors, while their wages can’t keep up.

ABS data shows the biggest winners of Labor’s 5% scheme are property speculators who rushed in, certain the policy was going to raise property prices & they were right. Double the amount of lending has gone to property investors than 1st home buyers - $43 billion in three months.

Aus rents have risen 2.5x faster than wages over the past 5 yrs. Renters are now spending an average of 33.4% of income on rent, putting millions into housing stress. Meanwhile, investor lending skyrockets. A result of Labor's choices that are making the housing crisis worse.

Israeli President Isaac Herzog isn’t welcome in Australia. The Greens stand with those peacefully protesting as we demand sanctions on Israel & an end to the two way arms trade. We join our voices with the millions who call for an end to genocide and justice for Palestine.

Rental affordability hits record low in Australia Tenants now pay an average of 33.4 per cent of their pre-tax income on rent, which is the highest level on record, according to a property research firm.

Aus rents have risen 2.5x faster than wages over the past 5 yrs w' renters spending an average of 33.4% of income on rent. How is it fair renters are bearing the brunt of the housing crisis while investors profit from tax incentives like the CGT discount?
tinyurl.com/32vtacxt

Last night at ANU talking work, time, women & sanity with this fab crew: Annabelle Crabb, Padma Raman, Lyndall Strazdins, Michelle Ryan ⏰. The revolution in women & carers entry to paid work has not been met with the necessary revolution in its terms. 💥It’s time!!💥

He had his hands up. Peaceful protest is our right - and responsibility against repression.

A massive increase in 75+ year olds living in rental stress. More are renting, & for longer, in a housing crisis where rents are thro the roof.

Labor needs to stop treating housing like a game of monopoly. It needs to scrap the tax breaks for wealthy property investors and directly build social and affordable homes.

Reigning in investor lending growth would be celebrated by renters and aspiring home owners who otherwise feel nothing but despair as they watch a repeat bout of runaway housing price inflation.

Massive tax breaks for wealthy property investors are cooking our housing system. Negative gearing and the capital gains tax discount let cashed-up investors outbid everyday Australians — and young people are the ones paying the price.

New figures show the Capital Gains Tax discount will blow a quarter-trillion dollar hole in the budget over the next 10 yrs. Considerably more than the $205 bn it has cost over its 25 years. The richest 1% of income earners will get a staggering 59% of the benefit.

Incredible that Labor is selling out SA by putting Woodside Barracks on the privatisation chopping block. 145 hectares of prime public land in our precious Adelaide Hills. Where are their priorities for public housing? For public amenities? Shame on you Labor. All wrong.

A 95% mortgage when homes are 8x the average household income is a recipe for financial stress. Without tackling the root causes of the housing crisis - tax breaks for wealthy property hoarders - house prices will continue to spike & banks will continue to rake in the profits.

Australians are fed up with the jobs-for-the-mates mentality plaguing successive governments. This is why the Greens have always supported strengthening lobbying oversight by extending the ban on former ministers' lobbying from 18 months to 5 yrs & applying it to senior staff.

As millions face increased mortgage repayments, they're left wondering, who benefits? The banks. Every mortgage the banks make $200,000 profit. When an adviser takes a job at a bank that's a beneficiary of Labor’s policy, what are mortgage holders & FHB supposed to think?

The lucrative revolving door is shameful. It’s clear Labor cares more about the profits of the banks than 1st home buyers. In a housing crisis Labor’s scheme has driven up house prices and encouraged people to take on more debt while they compete with wealthy property investors.

The Housing Minister's "policy brain" who was pivotal to the creation of Labor’s 5 % deposit scheme, which drove up house prices in the midst of a housing crisis, is making the move to Commonwealth Bank - one of the big four banks profiting off bigger home loans.

In the same week Australian households were told their mortgage repayments will go up, they have also learnt who the real beneficiaries of government housing policies are & it’s not first-home buyers.

The government’s refusal to clean up the unethical practices rife across the consultancy sector is the reason why the Greens introduced a bill to parliament. We must close the legal loopholes that allow government contractors who behave unethically to get away with it.

Political donations data shows big consulting firms are still giving large donations to the govt. It’s a conflict of interest - no wonder Labor is failing to act. Three of the Big 4 firms continue to donate to the govt - this is just wrong & Labor is refusing to take action.

So much of the Parliament’s time & resources have been spent uncovering unethical behaviour in the consultancy sector. The government was provided with clear recommendations for cleaning up the sector but instead of agreeing to them continues to greenlight unethical contractors.

Inquiries made 52 reccs between them, agreed to by Labor, Libs & Greens. They included lowering partnership caps, separating audit from non-audit services, improving whistleblower protections & not allowing PwC to tender for govt work until all ongoing investigations are over.

After taking years Labor has finally responded to the reccs of two Parliamentary inquiries into the consultancy sector. But they've failed to meet the moment. Labor needs to legislate the reports’ recommendations instead of relying on voluntary guidelines & endless reviews.

Clare O’Neil’s housing policy brain quits for CBA The latest in CBA’s musical chairs is the housing minister’s policy director.

Every post a winner when you play the revolving door. 💰 www.afr.com/rear-window/...

The solutions to the housing crisis are simple, but this isn’t it. Instead of flogging off land to private developers for massive profits, we need direct public investment in social & affordable housing. Labor needs to treat housing as a human right, not a game of monopoly.