Australia is in the grips of its worst housing crisis in living memory.
Oxford Economics Australia modelling shows we are on track to be almost 947,000 social and affordable homes short of what we need by 2041.
But we can fix this. A mega profits tax would raise $511 billion to allow us to close the gap by building 53,000 homes a year over the next two decades.
We’re calling on the Australian Government to meet the nation’s biggest problem head on with a fair levy on mega profits.
Taxing the extraordinary profits of just 0.3 per cent of businesses in Australia would meet our housing needs, creating enormous economic and social benefits across the nation.
It’s time to end the housing crisis. Let’s tax mega profits.
