Mortgage stress in Werriwa
Werriwa has the highest rate of mortgage stress in Australia. It is also top 10 for rental stress, raising considerable concerns about the cost of living in our community.
Data recently released by the University of NSW proves what residents of Werriwa have known for some time. Many of us are struggling to make ends meet.
This crisis existed long before the pandemic with budgets stretched and many families finding it harder to make ends meet. However, the additional burden of lockdown has made it more difficult to work or run a business, and in turn, pay bills.
Unfortunately, it is the residents and businesses of South-Western Sydney that have borne the burden of the Government's failings in this pandemic.
The Morrison-Joyce Government's failures in vaccine procurement and quarantine, along with the Berejiklian Government's failure to take decisive action to stop the Delta variant, have placed significant stress on households and businesses alike.
To combat the current policy failures, a Labor Government will help families who have a mortgage or are renting. The plan proposes to create a $10 billion off-budget Housing Australia Future Fund to build social and affordable housing. The implementation of such a policy will directly support 21,500 full-time jobs across the construction industry and broader economy, per year.
South Western Sydney needs a detailed and targeted economic stimulus package that will support local households and businesses.
Only Labor has a plan to improve cost of living and, more importantly, quality of life for people in our region.
Published in the Liverpool Champion on 1 October 2021: https://www.liverpoolchampion.com.au/story/7452988/werriwa-matters-with-anne-stanley-mortgage-stress-in-werriwa/