Australia news LIVE: Housing shortages could cost nation $25 billion a year; Crown Sydney wins conditional licence for Barangaroo casino; energy market suspension to be lifted

Key posts

  • Lack of affordable housing set to cost Australia $25b a year
  • Crown gets green light to open Sydney casino
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Lack of affordable housing set to cost Australia $25b a year

Businesses are increasingly struggling to find and retain workers who can afford to live within an acceptable commuting range, with a major new study warning a chronic lack of affordable housing is set to cost taxpayers $25 billion a year if nothing is done.

Some businesses have even taken matters into their own hands, offering the option of low-cost accommodation to lure workers unwilling to brave the long daily commute.

Housing affordability is a major challenge for buyers and renters.Credit:Jason South

The study, by public policy consultants SGS Economics and Planning, found decades of under-investment had triggered a collapse in the proportion of the housing stock regarded as affordable.

Social housing – a catch-all phase covering public housing and other forms of subsidised or lower-cost housing – now makes up just 4 per cent of national housing stock, a record low, and down from 6 per cent in 1996.

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Crown gets green light to open Sydney casino

Crown Resorts has received the green light to open its casino operations at Barangaroo just days before the group is taken over by US private equity giant Blackstone, but it has yet to confirm when gambling operations will commence.

The NSW Independent Liquor & Gaming Authority (ILGA) granted Crown a conditional licence for its casino on Wednesday that runs until December 31, 2023. Crown will then be reassessed to see if it is suitable to hold an unconditional licence.

Crown has been given a conditional licence to open its Sydney casino.Credit:Peter Rae

ILGA chairman Philip Crawford acknowledged that the complete clean-out of Crown’s board and senior executives signified the casino operator’s significant progress with reforms, but said more was needed to prove it is suitable to hold the licence.

Click here to read the story.

Good morning – here is you headlines

G’day everyone. It’s Roy Ward here and I’ll be starting off the day on our national news blog for Thursday, June 23 2022.

Thanks for joining us and please feel free to leave a comment on the blog at any time.

Here are some of the headlines this morning:

Crown gets green light to open Sydney casino

Delivery rider’s family wins landmark payout after death

Billions of dollars of government grants to be scrutinised

State budgets and economies at risk from increasing interest rates

Renowned swimming coach charged over alleged sexual assault

Electricity market suspension to be lifted as supply surges back

NSW nurses and midwives to strike for third time this year

Enjoy the day to come.

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