2026-03-27
Yesterday, documents released by the ACT Government exposed the true cost of Canberra’s historic housing debt, and it’s staggering. Since the year 2000, nearly $202 million in interest payments have been paid on the loan.
Leader of the ACT Greens and Greens Spokesperson for Housing, Shane Rattenbury, said the figures lay bare a system that is actively holding back progress on public housing, and the Federal Government is enabling it.
“This isn’t just bad debt, it’s a complete failure of priorities. The territory has effectively paid back almost the entire original debt in interest alone, without that money building a single new home for people who need it.
“At a time when we are in a worsening housing crisis, governments should be working together to build more public housing. This historic debt is stymieing that progress.
“While the Federal Government is giving more money to public housing with one hand, they are taking it back with the other via this debt mechanism.
“Let’s be clear: this isn’t a loan from a bank like Commonwealth Bank or ANZ. This is the Federal Government charging the ACT for historic investment in housing, and it’s a drop in the ocean compared to the scale of the federal budget.
“Every dollar spent servicing this debt is a dollar that could have gone into building homes, reducing waiting lists, and supporting people doing it tough.
“Instead, it’s disappearing into a financial black hole while thousands of Canberrans are locked out of secure housing.
“The Federal Government needs to wipe this debt and stop pretending this is a normal arrangement. If we are serious about tackling the housing crisis, we cannot keep punishing the very governments tasked with the job of fixing it