DIPPING INTO SUPERANNUATION FOR HOUSING DEPOSIT A ‘THOROUGHLY BAD IDEA’

22 Feb 2017

A proposal, reportedly being considered for Treasurer Scott Morrison’s housing package that would allow first home buyers to dip into their super to put together a deposit is a ‘thoroughly bad idea’.

DIPPING INTO SUPERANNUATION FOR HOUSING DEPOSIT A ‘THOROUGHLY BAD  IDEA’

A proposal, reportedly being considered for Treasurer Scott Morrison’s housing package that would allow first home buyers to dip into their super to put together a deposit is a ‘thoroughly bad idea’.

That’s what the Prime Minister said when the idea was floated by Joe Hockey in 2015.

This thought bubble is raised annually within the Liberal Party - and is just as quickly shot down.

In October 2014, Finance Minister Matthias Cormann dismissed the idea:

“Increasing the amount of money going into real estate by facilitating access to super savings pre-retirement will not improve housing affordability.”

After consistently claiming that more supply is the only answer to the housing crisis, the Coalition is again floating policies that will drive up demand.

The Turnbull Government is all at sea on housing policy.

In the past month alone they have floated allowing renters to borrow 100 per cent of the cost of a home, proposed dumping the National Affordable Housing Agreement, and yesterday, they told first homebuyers to get a highly paid job.

The Turnbull Government has no idea how to deal with the housing affordability crisis.

 

WEDNESDAY, 22 FEBRUARY 2017