Foreign investor crackdown to deliver $455 million windfall – but not without costs

Treasurer Jim Chalmers has unveiled a crackdown on foreign investors that experts say will cost the economy. Photo: AAP

Fees paid by foreign investors will double under a new federal government effort to ease Australia’s housing crisis, but experts warned the benefits would be marginal and come with costs.

Treasurer Jim Chalmers unveiled a $455 million crackdown on foreign investors on Friday, saying the funds would help deliver Labor’s housing agenda.