The Homebuilder Program is a government program initiated by the Australian government. It aims to provide enough jobs to the Australian people. The Federal Government of Australia aims to provide enough jobs for its citizens through the said program. The target number of jobs that should be created with the program's help is 9,600 jobs, thanks to its $680 billion budget.
The Current Status of the Homebuilder Program
According to Business Insider Australia, the program headed by Australia's current Prime Minister Scott John Morrison is a significant risk to underdeliver and be overpromising. The said program was announced in June of the current year, and it promises that it will provide 9,600 new jobs available to Australian citizens.
However, the Treasury Department is thinking otherwise about the program after their analysis made on it. After three months of analysis, they say that the program itself is exaggerated, especially with their promises, and will have the possibility of underdelivering, as mentioned earlier.
They are pushing that instead of the promised 140,000 direct jobs that the program will generate, along with the massive 1,000,000 possible related jobs, the program can only really create 9,600 jobs instead. This causes friction between the Prime Minister's office and the Treasury Department.
However, the Housing Industry Association (HIA) disagrees with the Treasury Department's studies and findings. They insist that since the program can provide 110.000 jobs to the people right now, according to their own reports.
The Homebuilder Program Is Still Running
According to ABC News Australia, the program will primarily assist with housing construction projects in the country. However, the cash assistance will depend on the program's findings, the current monetary allowance that the program provides $25,000 to qualified people.
The program is originally supposed to expire at the end of 2020. An extension can be made up to March 31, 2021, with lower monetary assistance of $15,000 for those eligible. Thanks to that extension, the Prime Minister has stated that there would be an additional 15,000 jobs in housing and construction projects during the program's extension.
Future of the Homebuilder Program
As mentioned earlier, the Australian government extended the program up to March 31, 2021. According to SBS News Australia, they expect that more housing projects will be made, which results in more jobs being available to the public. They consider this program and the upcoming result a good thing for the country's economy, saying it will be a "huge leap."
The government is optimistic that this program will be a huge success and can help avoid housing-related issues common to most countries to not grow out of control. The people behind this program are seeing the future success of this and are positively sure that it will make Australians' lives more comfortable and more manageable than before.
