Australia needs almost 947,000 new social and affordable housing properties to fix the housing crisis over the next two decades

A mega profits tax on excess company earnings will raise the $511 billion needed to close the housing gap by building 52,600 dwellings each year

Rents are spiralling out of control while Australia has some of the most unaffordable housing markets in the world

Increased social and affordable housing supply is estimated to lower rental prices by 10.4% by 2041, compared to an average growth of 2.0% annually if the shortage remains unfulfilled

A permanent, well-designed mega profits tax will not discourage investment or create market distortions