Michael Sukkar appointed Minister for Housing
Michael Sukkar has been appointed assistant Minister to the Treasurer and Minister for Housing.
He has been a member of the House of Representatives since 2013, representing the Deakin electorate in Victoria for the Liberal Party.
He served as the Assistant Minister to the Treasurer between 24 January 2017 and August 2018, when he returned to the backbench.
Luke Howarth is the assistant minister for Community Housing and Homelessness as key parts of Scott Morrison’s second Ministry.
The announcement of a Federal Housing Minister and an Assistant Ministry for Community Housing in the second Morrison ministry shows an awakening to the importance of affordable housing to the future of the country, according to Nicholas Proud, CEO of PowerHousing Australia, which represents 33 of Australia’s largest tier one and scale-growth community housing providers.
“As the biggest slowdown in the development of residential housing in our history threatens to see house prices sky rocket again as demand again outstrips supply, the Federal Government signals that affordable housing, social impact and the economy are not mutually exclusive.
“With housing remaining in Treasury there is real promise to build on the development of the National Housing Finance and Investment Corporation to see affordable housing deliver up to 10-20 per cent of the national build rate to preserve, jobs, underpin state budgets, preserve supply and keep house prices rising at a more manageable pace.
“Linking Treasury, Cities and Urban Infrastructure makes real common sense, it shows commitment to stop thinking about social and affordable housing as a short-term real estate play and reframes it as a long-term infrastructure yield/risk class ripe for 10-15 year institutional and global investment.
“It also links housing to the deep infrastructure and City Deals investments announced in previous Coalition budgets, which help to reduce congestion and make it easier for Australians, including key workers and those on low and middle incomes, to more easily get to and from work."
Around noted Australia is heading for a slowdown in new housing delivery.
The Australian Banking Association welcomed the reappointment of Treasurer the Hon Josh Frydenberg MP and the new appointments of the Hon Michael Sukkar MP as Assistant Treasurer and Minister for Housing and Senator Jane Hume as Assistant Minister for Superannuation, Financial Services and Financial Technology.
The CEO of the Australian Banking Association Anna Bligh welcomed the new appointments and looks forward to working closely with the Government on important policies such as improving protections for customers through overhauling the Banking Code of Practice, Open Banking and the Government’s First Home Buyers policy announced during the campaign.
“There are a number of critical reforms apart from the Royal Commission, most notably Open Banking and Comprehensive Credit Reporting, which the industry is eager to continue to work closely with the Government to ensure their success.
“Australia’s banks hold a critical role in the national economy and stand ready to work with the Morrison Government to ensure the economy keeps growing, from the financing of infrastructure projects to helping everyday people get ahead in life with first homes, cars and small business lending.
“Ensuring lending remains straight forward and easy for Australian customers looking to buy a home or invest in their business is a top priority for the industry and remains a critical element in ensuring the economy is geared for growth,” she said.