by Bianca Hall, published in The Age
An inner-city Melbourne council is considering establishing an emergency fund for renters struggling with the cost-of-living
crisis, as interest rates reached an 11-year high of 4.1 per cent on Tuesday.
After announcing the rate rise, Reserve Bank governor Philip Lowe acknowledged renters were feeling the cost-of-living crunch, with growing concerns the economy could be on the brink of recession.
A plan under consideration by Yarra City Council would make a fund of $100,000 available from July 1 for renters on any form of concession card, including students, so they could apply to the council for rent relief.
Yarra – which takes in the suburbs of Richmond, Abbotsford, Fitzroy and Collingwood – will also consider establishing an Airbnb tax in the medium term, which would feed into the emergency rental fund.
Bianca's full article can be found at https://www.theage.com.au/national/victoria/melbourne-council-mulls-airbnb-tax-as-renters-battle-cost-of-living-crisis-20230607
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