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	<title>kevin rudd &#8211; realestatesource</title>
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	<description>Commercial and residential property news</description>
	<lastBuildDate>Wed, 19 May 2010 03:38:00 +0000</lastBuildDate>
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	<title>kevin rudd &#8211; realestatesource</title>
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		<title>Class Action as a Result of Bungled Home Insulation Program</title>
		<link>https://www.realestatesource.com.au/class-action-as-a-result-of-bungled-home-insulation-program/</link>
		
		<dc:creator><![CDATA[Marc Pallisco]]></dc:creator>
		<pubDate>Wed, 19 May 2010 03:38:00 +0000</pubDate>
				<category><![CDATA[National]]></category>
		<category><![CDATA[government action]]></category>
		<category><![CDATA[kevin rudd]]></category>
		<category><![CDATA[Rudd Government]]></category>
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					<description><![CDATA[<p><img src="http://realestatesource.com.au/wordpress/wp-content/uploads/2010/05/insulation.jpg" border="0" align="right" />TAXPAYERS will flip the costs defending the Rudd government against an expected 800 class action law suits, as a result of the bungled $2.5 billion home insulation program.<br /><br />Insulation companies are seeking to recover costs associated with materials, training and other expenses incurred had the program continued until next December, as planned.<br /><br />The insulators will also seek to be compensated for potential lost profits, until that time.<br />
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										<content:encoded><![CDATA[<p>A class action was found to be underway after inspectors employed to inspect homes damaged by inept insulation installers failed to show up, The Australian reports.</p>
<p>Greg Hunt, Opposition environment spokesman said &#8220;Every householder who is concerned that their insulation may be one of the 240,000 dangerous or sub-standard insulation jobs should be entitled to have it inspected by the government.&#8221;</p>
<p>The Opposition has called for the government to inspect every home insulated under the program.</p>
<p>It&#8217;s also called on the government to release four letters by Peter Garrett to the Prime Minister about the scheme, which the Prime Minister will not release citing cabinet confidentiality.</p>
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		<title>Bills to Increase up to 25 Per Cent After Proposed Mining Tax</title>
		<link>https://www.realestatesource.com.au/bills-to-increase-up-to-25-per-cent-after-proposed-mining-tax/</link>
		
		<dc:creator><![CDATA[Marc Pallisco]]></dc:creator>
		<pubDate>Sat, 15 May 2010 03:32:06 +0000</pubDate>
				<category><![CDATA[National]]></category>
		<category><![CDATA[Federal Government]]></category>
		<category><![CDATA[kevin rudd]]></category>
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					<description><![CDATA[<p>MORTGAGE holders face a 25 per cent increase in power bills as a result of the Rudd Government's proposed 40 per cent tax on the mining industry.<br /><br />La Trobe University tax lecturer Tony Anamourlis said the tax will "chew away substantial profits...thus affecting the prices of electricity and gas, which will skyrocket prior to its implementation (in July next year)".<br /><br />He estimates residential power bills will increase between 10 and 25 per cent.<br />
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										<content:encoded><![CDATA[<p>The Minerals Council of Australia said in the Herald Sun article it was as yet unclear how the mining tax would affect consumers, but added it is modelling the impact.</p>
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		<title>Rawlinsons Costs at Odds With That BER is Paying</title>
		<link>https://www.realestatesource.com.au/rawlinsons-costs-at-odds-with-that-ber-is-paying/</link>
		
		<dc:creator><![CDATA[Marc Pallisco]]></dc:creator>
		<pubDate>Wed, 12 May 2010 05:51:58 +0000</pubDate>
				<category><![CDATA[National]]></category>
		<category><![CDATA[ALP]]></category>
		<category><![CDATA[BER]]></category>
		<category><![CDATA[Building Education Revolution]]></category>
		<category><![CDATA[Julia Gillard]]></category>
		<category><![CDATA[kevin rudd]]></category>
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					<description><![CDATA[<p><img src="http://realestatesource.com.au/wordpress/wp-content/uploads/2010/05/julia%20gillard.jpg" border="0" width="122" height="92" align="right" />RAWLINSONS – the construction industry’s cost handbook – is going a long way into highlighting waste in the ALP government’s $16.2 billion Building the Education Revolution program.<br /><br />According to the latest edition of the Rawlinsons Constrution Handbook, single level primary school buildings should cost about $1350 per square metre to construct.<br /><br />By comparison, the NSW government is spending $13,306 per square metre building 21 canteen buildings in public schools.<br />
]]></description>
										<content:encoded><![CDATA[<p>Buildings that will house libraries are costing $5400 per square metre, while even the most simple “standard double portable” is being charged at $4251 – more than three times the industry standard.</p>
<p>A recently launched auditor general report into the contentious program has highlighted</p>
<p>Rawlinsons is widely used within industry circles, and continually monitors construction costs across all sectors including education, office, retail, industrial, hospitality etc.</p>
<p>It releases its figures according to State.</p>
<p>The Australian reported the disparity between Rawlinsons figures, and that the ALP is spending.</p>
<p>Education Minister Julia Gillard was unable to explain to The Australian why state schools were forced to pay such a high price for structures.</p>
<p>The ALP continues to shrug off claims of cost blow-outs, saying higher costs equals higher quality – something it has failed to prove.</p>
<p>As well as the potential cost blowout, the controversial $16.2 billion program was criticised for failing to “revolutionise” anything within the Education sector – instead just build new structures, many of which schools have neither wanted or needed.</p>
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		<title>ALP&#8217;s Commission Flat Building Boom Underway Without Community Consultation</title>
		<link>https://www.realestatesource.com.au/alps-commission-flat-building-boom-underway-without-community-consultation/</link>
		
		<dc:creator><![CDATA[Marc Pallisco]]></dc:creator>
		<pubDate>Tue, 09 Mar 2010 14:17:42 +0000</pubDate>
				<category><![CDATA[National]]></category>
		<category><![CDATA[affordable housing]]></category>
		<category><![CDATA[Coburg]]></category>
		<category><![CDATA[commission flats]]></category>
		<category><![CDATA[development dispute]]></category>
		<category><![CDATA[Geelong]]></category>
		<category><![CDATA[justin madden]]></category>
		<category><![CDATA[Karen Struthers]]></category>
		<category><![CDATA[kevin rudd]]></category>
		<category><![CDATA[public housing]]></category>
		<category><![CDATA[social housing]]></category>
		<category><![CDATA[tanya plibersek]]></category>
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					<description><![CDATA[<p><img src="http://realestatesource.com.au/wordpress/wp-content/uploads/2010/03/commission%20flat%202.jpg" border="0" align="right" />THE Federal Government’s contentious plan to build record amounts of commission flats and social housing around your streets, and without proper community consultation – seems to finally have caught the attention of the wider community.<br /><br />Despite anger in some States that details about the mass roll-out of commission flats have been deliberately kept from the community – the State ALP governments are pushing ahead with major public housing projects.<br /><br />State governments need to do so in an attempt to collect part of the massive taxpayer-funded $5.6 billion the Federal ALP government has allocated to the initiative, for projects completed before a 2012 deadline.</p>
]]></description>
										<content:encoded><![CDATA[<p>The ALP wants to add 80,000 social and affordable housing to Australian streets pronto. Many developers who lodged plans with council are now re-lodging applications, with a “percentage” of social housing – to be operated by a housing co-operative &#8211; in an attempt to speed through an approval, and help the ALP governments with their aims.</p>
<p>In Queensland recently, ALP housing minister Karen Struthers called for “tolerance” in welcoming an increasing surge of public housing residents to its neighbourhoods.</p>
<p>In Victoria, Planning Minister Justin Madden “called in” (approved without community consultation) several social housing projects, which did not need to be publicly advertised, because of a temporary change in the law last year, and soon after the initiative was announced.</p>
<p>Kelvin Thompson, the federal minister for Wills and Jane Garrett, the ALP candidate for Brunswick, in Melbourne, have both acknowledged in The Age today, the government’s failure to consult the community over public housing redevelopment. </p>
<p>However despite the acknowledgement, little seems to be done to change it.</p>
<p>When quizzed about the fast-tracking of projects in the scheme, Federal Housing Minister Tanya Plibersek handpassed a response, telling The Age “such issues were a matter for the state”.</p>
<p>In Queensland, the government has recently said it would not let protesters get in the way of social housing construction.</p>
<p>Mr Madden, again speaking via a spokeswoman, told The Age rather conclusively: “Meeting these time frames ensures Victoria receives its share of nation building funding and boosts its social housing stock across the State.”</p>
<p>Major social housing projects in Coburg and Geelong, in Victoria recently started construction before residents were consulted.</p>
<p>Mr Madden, a former AFL footballer, is facing his second vote of no confidence in a year, over an email sent to him by a media adviser outlining a sham consultation process for the Windsor Hotel redevelopment, in which it would be claimed the politician listened to the public, in rejecting an application.</p>
<p>In Melbourne, a major 128-hectare proposal for Department of Defence land on the banks of the Maribyrnong River, in Cordite Avenue, Maribyrnong, near Highpoint, will include “at least” 20 per cent social and affordable housing. </p>
<p>VicUrban will assume control of the prominent Maribyrnong site in 2012 and proceed with the development, which was not seen by the community, prior to VicUrban announcing plans for the site.</p>
<p> </p>
<p>Related articles:</p>
<p><a href="government-tells-community-to-be-tolerant-as-brisbane-gold-coast-sunshine-coast-all-to-receive-more-social-housing.html">Government Tells Community to be Tolerant as Brisbane, Gold Coast, Sunshine Coast All to Receive More Social Housing </a></p>
<p><span class="small"> </span> <a href="institutions-encouraged-to-apply-for-third-stage-of-the-national-rental-affordability-scheme.html"> Institutions Encouraged to Apply For Third Stage of the National Rental Affordability Scheme </a></p>
<p><a href="public-housing-residents-want-air-conditioning.html"> </a></p>
<p><a href="major-160-million-public-housing-based-development-likely-to-proceed-near-melbourne-airport.html">Major $160 Million Public Housing-Based Development Likely to Proceed Near Melbourne Airport </a></p>
<p><a href="public-housing-residents-want-air-conditioning.html"><span class="small"> </span> </a><a href="public-housing-residents-want-air-conditioning.html"> Public Housing Residents Want Air Conditioning </a></p>
<p><span class="small"> </span> <a href="public-housing-boom-for-nsw.html"> Public Housing Boom For NSW </a></p>
<p><a href="public-housing-building-boom-underway-in-australia.html">Public Housing Building Boom Underway in Australia </a></p>
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		<title>Government Tells Community to be Tolerant as Brisbane, Gold Coast, Sunshine Coast All to Receive More Social Housing</title>
		<link>https://www.realestatesource.com.au/government-tells-community-to-be-tolerant-as-brisbane-gold-coast-sunshine-coast-all-to-receive-more-social-housing/</link>
		
		<dc:creator><![CDATA[Marc Pallisco]]></dc:creator>
		<pubDate>Sun, 17 Jan 2010 03:22:31 +0000</pubDate>
				<category><![CDATA[Queensland]]></category>
		<category><![CDATA[affordable housing]]></category>
		<category><![CDATA[Bowen Heads]]></category>
		<category><![CDATA[Brisbane]]></category>
		<category><![CDATA[Chermside]]></category>
		<category><![CDATA[commission flats]]></category>
		<category><![CDATA[Gold Coast]]></category>
		<category><![CDATA[kevin rudd]]></category>
		<category><![CDATA[Mitchelton]]></category>
		<category><![CDATA[Newmarket]]></category>
		<category><![CDATA[NIMBY]]></category>
		<category><![CDATA[public housing]]></category>
		<category><![CDATA[Red Hill]]></category>
		<category><![CDATA[social housing]]></category>
		<category><![CDATA[Sunshine Coast]]></category>
		<category><![CDATA[Wooloongabba]]></category>
		<guid isPermaLink="false">http://realestatesource.com.au/wordpress/government-tells-community-to-be-tolerant-as-brisbane-gold-coast-sunshine-coast-all-to-receive-more-social-housing.html</guid>

					<description><![CDATA[<p><img class="caption" src="http://realestatesource.com.au/wordpress/wp-content/uploads/2010/01/karen%20struthers.jpg" border="0" alt="Karen Struthers - ALP" title="Karen Struthers - ALP" align="right" />A RECORD number of social housing is being developed in Queensland this year, as part of the Federal Government’s recent stimulus package.</p>
<p>And the ALP State Government has said it won’t let protesters get in the way of construction.</p>
<p>The Courier Mail reports about 3000 units worth $1.1 billion are set to be developed in the State.</p>
]]></description>
										<content:encoded><![CDATA[<p>Brisbane will accommodate about 1,100 – set to be developed in suburbs including Mitchelton, Bowen Hills, Wooloongabba, Chermside, Newmarket and Red Hill.</p>
<p>Another 1,200 units will be developed on the Gold Coast and Sunshine Coast.</p>
<p>Housing Minister Karen Struthers said “The NIMBY (Not in my Backyard) stuff is such a shame.”</p>
<p>“The arguments (for objections) are usually practical things about car parks&#8230;but sometimes when we dig a little deeper that’s masking general concern about social housing tenants coming into their neighbourhoods,” she said.</p>
<p>Brisbane Housing Company is co-ordinating the construction of the dwellings.</p>
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		<title>$28 Billion Rudd Bank Rejected in Federal Parliament</title>
		<link>https://www.realestatesource.com.au/28-billion-rudd-bank-rejected-in-federal-parliament/</link>
		
		<dc:creator><![CDATA[Marc Pallisco]]></dc:creator>
		<pubDate>Tue, 16 Jun 2009 03:33:37 +0000</pubDate>
				<category><![CDATA[National]]></category>
		<category><![CDATA[ABIP]]></category>
		<category><![CDATA[Australian Business Investment Partnership]]></category>
		<category><![CDATA[government action]]></category>
		<category><![CDATA[kevin rudd]]></category>
		<guid isPermaLink="false">http://realestatesource.com.au/wordpress/28-billion-rudd-bank-rejected-in-federal-parliament.html</guid>

					<description><![CDATA[<p><img class="caption" src="http://realestatesource.com.au/wordpress/wp-content/uploads/2009/06/kevin%20rudd.jpg" border="0" alt="Kevin Rudd" title="Kevin Rudd" align="right" />THE AMBITIOUS $28 billion "Rudd Bank" - designed to protect the commercial property sector from the global financial crisis - was rejected in federal parliament this afternoon.</p><p>The Liberal party and the Greens voted down the fund, officially known as the Australian Business Investment Partnership, which was being lobbied by several property unions and bodies.</p>]]></description>
										<content:encoded><![CDATA[<p>The perceived need for the fund came about after foreign lenders became more conservative with their lending. In practice, this meant developers had to contribute more of their own funds toward the total development cost. For apartment tower developments, financiers are also insisting on a greater number of pre-sales, than was the case prior to 2007.</p>
<p>The Rudd Bank would have lent money to developers, to bridge the gap between the total development cost, and the amount a developer can borrow from foreign banks.</p>
<p>&nbsp;</p>
<p>An ALP media statement released January 24 is copied below:</p>
<p>To help support Australian jobs, the Rudd Government will establish a $4 billion Australian Business Investment Partnership. </p>
<p>This $4 billion Partnership is a temporary contingency measure to provide liquidity support to viable major commercial property projects in Australia. </p>
<p>The Partnership will support the commercial property assets of viable Australian businesses which, without financing, would be forced to retrench thousands of employees. </p>
<p>Commercial property projects that could be supported by this initiative include shopping centres, office towers and factories under construction, as well as existing properties of that nature. </p>
<p>The commercial property sector employs about 150,000 people in Australia. </p>
<p>Many of the 150,000 workers employed in the commercial property sector are tradespeople, such as plumbers, electricians and carpenters. </p>
<p>Without action, a combination of weak demand and tight credit conditions could see up to 50,000 people in this sector lose their jobs, according to Treasury, with flow-on effects to jobs in other parts of the economy. </p>
<p>Small and medium size businesses which service the commercial property sector could also be devastated by weak demand and tight credit conditions in the sector </p>
<p>The Government will not sit idly by and watch these jobs and small and medium size businesses be wiped out by fluctuations in global credit markets. </p>
<p>The Partnership will be structured to minimise the exposure risk to Australian taxpayers. It will not allow the major banks to pass on any underperforming assets to the Australian Government. Safeguards will ensure the banks continue to finance the projects to be supported, and that projects will only be considered where a member of a syndicate has actually decided to exit.</p>
<p>&nbsp;</p>
<p>Foreign banks in Australia </p>
<p>Foreign banks play an important role in the Australian financial system, but the global financial crisis means that some foreign banks may consider withdrawing their funding from good Australian businesses that require funding to invest in growth and jobs. </p>
<p>That is why the Rudd Government will establish the Partnership to ensure viable Australian construction and commercial property projects, and the jobs and businesses they support, are not wiped out because of unrelated and uncontrollable fluctuations in global credit markets. </p>
<p>&nbsp;</p>
<p>The Australian Business Investment Partnership </p>
<p>The Australian Business Investment Partnership will support only high quality Australian assets suffering as a result of global weakness in capital markets. </p>
<p>The action the Government is undertaking does not in any way reflect on the health of the Australian banking system. The banking sector remains well capitalised and Australia has withstood the impact of the global crisis better than many of its international counterparts. </p>
<p>However Australia is not immune from the global crisis and the actions being announced today will help shore up our system against ongoing uncertainty. Disruption in the commercial property sector credit market could have a devastating impact on Australian jobs, which is why the Government is determined to act. </p>
<p>The Government and the major banks have committed capital to this fund in equal partnership and will only offer loans by unanimous agreement between all parties. The Partnership will provide financing on fully commercial terms for commercial property where the underlying assets, and the income streams from those assets, are commercially sound. </p>
<p>This Partnership will be initially capitalised at $4 billion, with the Government contribution of $2 billion matched by an equal contribution by Australia’s four major banks. The initial $4 billion capitalisation could be extended via the issuance of government guaranteed debt to create up to $30 billion of loanable capital. </p>
<p>The Partnership will be limited to the re-financing of existing Australian commercial property syndicated loans on commercial terms when the withdrawal of funding by a participant of the syndicate threatens the refinancing of the loan. </p>
<p>The Partnership will focus on completed commercial property investments and partly completed development projects with secured pre-commitments (for example, retail shopping centres, commercial office and industrial property). It will be structured to allow sufficient flexibility to provide financing in other areas of commercial lending, should the need arise and the Government and four major banks jointly agree. </p>
<p>Completed commercial property projects would be included in this partnership to ensure that systemic instability in the commercial property sector does not undermine investor confidence. </p>
<p>The Government and the major banks will continue discussions over the coming weeks to finalise arrangements for the implementation of the Partnership, with a view to having it operational by March 2009. </p>
<p> </p>
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		<title>Ubertas Group to Sell Last Apartments at 505 St Kilda Road</title>
		<link>https://www.realestatesource.com.au/ubertas-group-to-sell-last-apartments-at-505-st-kilda-road/</link>
		
		<dc:creator><![CDATA[Marc Pallisco]]></dc:creator>
		<pubDate>Sun, 28 Mar 2010 13:19:03 +0000</pubDate>
				<category><![CDATA[Victoria]]></category>
		<category><![CDATA[Julia Gillard]]></category>
		<category><![CDATA[justin madden]]></category>
		<category><![CDATA[kevin rudd]]></category>
		<category><![CDATA[Planning Minister]]></category>
		<category><![CDATA[St Kilda Road]]></category>
		<category><![CDATA[Ubertas]]></category>
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					<description><![CDATA[<p>A UNIQUE luxury apartment with a “left-wing” connection has hit the market, as the developer of a new complex clears the last of the unsold apartments.<br /><br />The double-storey “townhouse-style” apartment is on the ground floor of Ubertas Group’s 505 St Kilda Road complex, a project built on the site of what was St Kilda Road’s first high-rise office.<br /><br />The 505 complex is absolute park-front, having a security door connecting residents to the massive Fawkner Park. The apartment itself (G02) includes two bedrooms, a study, two car parks, downstairs courtyard and upstairs balcony – both with a park vista.<br />
]]></description>
										<content:encoded><![CDATA[<p>Icon Property’s Robert Mitchelson is marketing the apartment for private sale at $1.8 million.</p>
<p>Ubertas is headed by Albert Dadon, a long-time and close personal friend of Prime Minister Kevin Rudd and wife Therese Rein, and with whom he spent last New Year’s Eve.</p>
<p>Last year Ubertas appointed Deputy Prime Minister Julia Gillard’s partner, Tim Mathieson, to a role marketing apartments, despite “Mr Gillard’s” previous sales experience, selling hair products.</p>
<p>Ubertas owns a double storey office building on a prominent site opposite the Flagstaff Gardens and Victoria Market, and is currently seeking approval by Planning Minister Justin Madden to build one of two high-rises, the tallest rising some 50-levels (the smallest rising 35-levels).</p>
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