The $2.6 billion HomeBuilder stimulus during the pandemic helped fuel inflation and has contributed to a housing shortage because most of the money was spent on renovations, not building new homes, the COVID-19 inquiry has found.
A more comprehensive review of economic measures taken during the pandemic should be held, the inquiry recommended, including into HomeBuilder, the $36 billion cash flow boost for employers, early access to $38 billion of superannuation and additional welfare payments to the jobless.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
