Anthony Albanese says NSW Premier Chris Minns showed ‘courage’ in Rosehill Racecourse bid

Anthony Albanese has applauded the NSW government’s “courageous” idea to convert Sydney’s Rosehill Gardens Racecourse into a 25,000-apartment mini city, despite it failing to get the go ahead.

The controversial plan, which would have involved the state buying the racecourse for about $5bn, was proposed by the Minns government to address Sydney’s housing crisis.

While the plan was voted down by Australian Turf Club members two weeks ago, the Prime Minister said Premier Chris Minns had shown “courage” in proposing the mini city.

“He was absolutely right in putting forward something that was controversial, and then in the end, people knocked back despite the fact that it had the support of the leadership of the racing industry,” he said.

“But that’s the sort of thing that we’re going to need to do. You can’t deal with supply issues without having the courage to do things like that.”

His words come as the Labor is flagging a federal crackdown on scrapping regulation roadblocks to supercharge housing approvals and increase supply.

Labor also broadly needs to build 1.2 million homes by June 30, 2029 as part of its Housing Accords, with Mr Albanese also committing $10bn to build 100,000 new homes earmarked for first home buyers.

Mr Albanese said it was “too hard” to build a house in Australia, citing criticism from developers that current regulatory hurdles were too complex and added to project costs.

However, he said Housing Minister Clare O’Neil, who was also recently been given the new portfolio for cities, had “clear ideas” to cut through regulation, especially around building standards.

“We want to make sure that housing is fit for purpose and all of that but if we can cut through on some of the red tape, then that will reduce costs,” he said.

The government will also expand its First Home Guarantee scheme to all first home buyers, regardless of income caps, which allow them to purchase an eligible property with a 5 per cent deposit, while also avoiding lender’s mortgage insurance.

Labor has also committed to investing $10bn to build 100,000 new homes which will be earmarked for first-home buyers.

He also used his speech to announce an upcoming roundtable between business leaders, the unions, community and business associations, with the aim of boosting productivity, economic growth and wages.

Business Council of Australia’s chief executive Bran Black welcomed the comments, saying productivity growth was the “single biggest driver to sustainably lift living standards for all Australians”.

“Productivity growth over the past decade was the weakest in six decades, and we know that lifting business investment is essential to boosting productivity, lifting real wages, creating jobs and ensuring more opportunity for more Australians,” he said.

A joint statement from Shadow Treasurer Ted O’Brien and the Coalition’s housing spokesman Andrew Bragg said they would closely watch the results of the round table but said Labor was holding a “Canberra talkfest” to fix a “productivity disaster”.

“We are open to being constructive. We also expect the government to be open to ideas from industry and other experts in areas from industrial relations, energy, taxation, regulation and red tape,” they said.

PM’s outlines huge vision for Aus

Mr Albanese used his first major speech since winning a second term to promise to fight against growing cynicism and “frustration” in government, as he prepares to meet with US President Donald Trump.

He said his second-term Labor government would “make a real difference to people’s lives,” which included delivery on its mandate to boost bulk-billed GP appointments, decrease student debt and other cost-of-living measures.

While he acknowledged the “significant global uncertainty” and “economic instability” currently underpinning the world, he said Labor will be a “practical and positive alternative” and deliver on its “vision for a stronger, fairer Australia”.

“It is the more corrosive proposition that politics and government and democratic institutions, including a free media, are incapable of meeting the demands of this moment,” he said.

“Our responsibility is to disprove it.

“To recognise that some of this frustration is drawn from people’s real experience with government – be it failures of service delivery, or falling through the cracks of a particular system.

“To counter this, we have to offer the practical and positive alternative.”

Mr Albanese’s comments on a volatile international environment preceded his yet-to-be-confirmed first face-to-face meeting with US President Donald Trump, which is expected to happen when he travels to Canada for the G7 Leader’s Summit over the weekend.

Labor also faces a heavy policy agenda when parliament finally sits on July 22 for the first time since the May 3 election, with Mr Albanese promising to legislate a 20 per cent discount of student debts as its first priority.

“Our second term agenda has been shaped by the lives and priorities of the Australian people. And it is built on Australian values,” he said.

“It is the mission and the measure of a Labor government to give those enduring ideals of fairness, aspiration and opportunity renewed and deeper meaning, for more Australians.

“To deliver reforms that hold no-one back – and drive progress that leaves no-one behind.”

Since Labor’s election landslide on May 3, it has faced attacks on its plan to bring in a 30 per cent tax on superannuation balances over $3m.

While the Greens have already flagged it will work with Labor to most likely pass the tax in the Senate, the Coalition have criticised the policy as a “grab for revenue”.

However Jim Chalmers has rebuked changes to the tax, calling the changes “modest” and “methodical,” which will make a “meaningful difference to the budget”.