11 May 2011
The Government is implementing its previously announced intention to spread the roll‘out of the National Rental Affordability Scheme(NRAS) over a longer time period, with 35,000 funded over the forward estimates and a further 15,000 dwellings to be supported beyond the forwards (which, if you are cynical, means they will never be provided).
This will provide savings of $345.1 million over five years ($264.3 million in underlying cash balance terms) “for redirection to assist with the rebuilding of flood‘affected regions across Australia”.
In consultation with the relevant states, priority will be given to applications from flood‘affected areas across Australia in allocating the remaining National Rental Affordability Scheme incentives under the 2013‘14 target.
The government says that the scheme will continue to operate over the longer term to deliver at least the 50,000 homes provided for under the original program.
