Former treasurer Peter Costello has backed the opposition’s plan to let workers tap into their superannuation to buy a home, saying locking away savings to get a better retirement is “not a great a consolation” if you’re homeless in the meantime.
“That might be right or wrong. But to live 40 years homeless, so you have a better retirement, I don’t think is a great consolation. I’d rather have a house for 40 years, if it’s all the same to you.”AdvertisementMr Costello said he did not back a super-for-housing policy when he was treasurer because the economic settings at the time were different, with super contributions 6 per cent in his final year in 2007 compared to 11 per cent now and 12 per cent from next year.
Source: Real Estate Daily Report (realestatedailyreport.net)
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