Mathias Cormann: “Increasing the amount of money going into real estate by facilitating access to super savings pre-retirement will not improve housing affordability. It would increase demand for housing and, all other things being equal, would actually drive up house prices by more. That is, it would reduce housing affordability, including for first-home buyers. The only effective way to tackle housing affordability is by boosting housing supply, not by boosting demand.” October 2014
Peter Costello: “If you want it to top up people’s retirement, if you want it to save the government money and it has that dual purpose, then you probably won’t allow people to draw down on it for housing.” March 2015
Malcolm Turnbull: “[A] thoroughly bad idea … That is not what the superannuation system is designed to achieve.” March 2015
Malcolm Turnbull, rejecting the idea again as prime minister: “That is the legislated purpose of superannuation, to provide for retirement. That is why the whole system was set up in the first place.” April 2017
Christopher Pyne: “Superannuation has a particular role. It is a retirement income. Our superannuation system is the envy of the world and those people who seek to fiddle with it are putting that at risk and there is no evidence to suggest that, if superannuation was able to be used for housing, that would somehow bring house prices down. There is evidence on the other side of the ledger which suggests that all that would happen, in fact, was that house prices would continue to go up and the person selling the house would simply take that person’s super and increase house prices.” April 2017
Peter Dutton: “I think the PM [Malcolm Turnbull] has got it right. He’s referred back to his previous words on this to say that it’s not good policy and I agree with him.” April 2017
Anne Ruston: “I’ll agree with [Labor MP Nick] Champion … We need to be careful that you don’t pour a bucket of kerosene on a fire. We need to look at all of the measures in total.” April 2017
Sussan Ley: “Young people need their super for retirement, not to try to take pressure off an urban housing bubble, better solved by decentralisation.” April 2017
Luci Ellis: Reserve Bank assistant governor (economic) to Falinski inquiry: “This is a matter for government, but super is there to enhance retirement incomes. If that were to be redirected to spending more on housing, the result would be that people would spend more on housing.” September 2021
The House of Representatives Standing Committee on Tax and Revenue, chaired by Liberal MP Jason Falinski: “The committee recognises that allowing first-home buyers to access or borrow against part of their super to purchase a home would, in the absence of increased housing supply, likely increase demand and lead to higher property prices.” March 2022
John Howard: “Super is for retirement.” March 2022
Jane Hume: “I would imagine in the short term, you might see a bump in house prices.” May 16, 2022
Scott Morrison [when asked about Hume’s admission on the effect on home prices]: “It’s quite marginal. It’s quite marginal.” May 16, 2022
It’s like that on their (hopefully) way out are thowing bombs. And if they miraculously get in, they achieved another goal in their quest to destroy society.
The Victorian state liberals signed a comfort letter enabling contractors to claim hundreds of millions of dollars from the Victorian taxpayers so they could create a wedging debate for years to come that could be used by state and federal Liberals at election time .
Another Liberal dumb act much the same as the $6.6 billion we will pay out to escape the French sub deal.
Would anyone trust this lot of lying rorters again? They say they can manage money did they mean manage to steal?
They’re out to destroy Industry Super – a huge stack of money controlled by those they see as the enemy. Young peolpe are just collateral damage.
They LP always has been and always will be opposed to those of us who were born to ordinary working class parents owning our own homes and having some superannuation savings to see us through retirement.
Hume and Tim Wilson are just the latest in a long line of Libs who have made their beliefs clear.
I agree, Woopwoop. He’s making the same appeal as he did when people were allowed to withdraw super to cope with the covid lockdown period; it’s the appeal to those who might resent having their money forcefully taken from their post-tax pay packets. Morrison keeps saying ‘It’s your money… it’s your money’, in order to stoke that resentment and at the same time to plant the idea that there’s nothing wrong, self-evidently, with taking it back to use as you please. He knows it’s no solution to the housing crisis, but it continues the war against industry Super.
You’ve got to hand it to the Libs – they’ve saved their stupidest brain fart policy idea for the home stretch. Like introducing an idiotic plot twist into a B-grade horror film with 10 minutes to go.
Unfortunately, the PM is not about what is right for anyone else but himself and his like-minded cronies .After 10 years of stagnant wages , denying climate change and refusing to establish an ICAC that could uncover the rorts , the soon to become ex PM asks us to believe him .He says he will change is that another lie?
‘…is that another lie?’
Only if his lips were moving.
Correct. Scummo and co want us back in our box. Poor and dependant on the squires good moods. Beneath contempt.