Australian Greens MPs in the House of Representatives will vote against Labor’s ‘Help To Buy’ scheme - a narrow housing lottery that will push up prices for 99.8% of people - saying the government needs to ‘wake up’ to the housing crisis.

The vow comes unless Labor pledges to negotiate with the Greens on negative gearing and capital gains discounts, two tax handouts for property investors that collectively push up the price of housing and disadvantage renters at auctions, as well as rent caps and building public housing.

Economists argue that schemes like the ‘Help To Buy’ bill also have the effect of pushing up house prices, further pushing a first home out of reach of the country’s five million renters.

Labor’s public refusal to negotiate on their housing lottery bill is similar to their approach to the HAFF, where the Greens were ultimately able to secure $3 billion for public and community housing.

The Help to Buy legislation is the last of Labor’s announced housing policies to enter the House, meaning that with millions of renters struggling to keep their heads above water and with house prices and mortgages soaring, this is Labor’s final effort to deal with the housing crisis before the Federal election.

Lines attributable to Adam Bandt MP, Leader of the Australian Greens:

“Labor needs to wake up. The housing and rental crisis is breaking people and Labor is pushing rents and house prices up,” Mr Bandt said.

“The Greens are fighting for renters and first home buyers. Labor’s fighting for wealthy property investors.

“Unless Labor comes to the table on negative gearing and capital gains tax discounts, capping rents and building public housing, the Greens will vote against Labor’s housing lottery bill in the House this week, and reserve our position in the Senate.

Lines attributable to Max Chandler-Mather MP, Australian Greens Housing spokesperson:

“We’ve got a property investor Prime Minister trying to ram through a bill that will drive up house prices, while refusing to scrap the massive tax handouts for property investors that are denying millions of renters the chance to buy a home,” Mr Chandler-Mather said.

“A renter who is a first home buyer shouldn’t be losing at auctions to a property investor who gets a handout from Anthony Albanese.

“Labor’s housing and rental crisis is breaking people. Renters are being forced to choose between feeding themselves and paying the rent, but Labor’s choosing to give a handout to the property investor who owns the house.

“This might be the parliament’s last chance to deal with the housing and rental crisis this year, and Australians deserve and need more than a housing lottery bill where 99.8% of renters lose.

“The Greens want to cap rents, build public housing and stop the handouts to wealthy property investors, and Labor wants to drive up house prices and dish out cash to wealthy property investors.”