Housing Investment Probity Bill 2024; Second Reading

Summary

The Housing Australia Future Fund (HAFF) — a government scheme that invests in housing projects — will be banned from funding any projects that involve Cbus Super (a major construction industry superannuation fund). This change amends the Housing Australia Future Fund Act 2023. The government is taking this action because Cbus has three board members from the CFMEU (the construction union), and there have been allegations that CFMEU officials have used their influence at Cbus to secure lucrative contracts and that the union's enterprise agreements have pushed construction costs up by around 30%. By cutting off HAFF funding from Cbus-linked projects, the government aims to prevent taxpayer money from being channelled through an organization linked to corruption allegations, and potentially reduce the cost and time needed to build homes that Australia needs.

What happens at this stage

The main debate on whether the chamber supports the broad purpose of the bill. Members speak to its overall merits and concerns rather than the fine print. The government outlines its policy intentions; the opposition and crossbench put their case. This is the stage that determines whether the bill proceeds at all.

Next: Consideration in Detail (House) or Committee of the Whole (Senate), where the bill is examined clause by clause