Labor spokesman Jason Clare has warned the Coalition's plan to allow young Australians access their super to break into the property market"would push prices up".
"In Sydney where we are talking today from, where I am here, the expectation is that it would increase the cost of a home here in Sydney by $134,000," he told ABC Breakfast. "If they really thought this was a good idea, do you think they would plant it six days before an election?" Mr Clare asked. He pointed to the fact most young Australians do not have a large sum of super sitting in their accounts readily available to spend on a house.
Mr Clare flagged Labor's policy will assist couples and families to own a home rather than renting for the rest of their lives.
Source: News Formal (newsformal.com)
Its a desperate measure that only highlights the Government failure to adequately manage housing supply. Government is essentially giving your super to existing owners or builders and it may never come back to you. Bad idea.
Albomoronic has no plan.
Well clare it is far better than the limited approach labor have to housing. Labor's approach is to a limited number of people with stringant rules. Social housing does NOT work. But these comrades haven't worked that out yet.
JasonClare has as little knowledge on policy and economics as Anthonyalbanese. Increased prices? What does he think labors 40% ownership of people homes with taxpayers funds will do, Labors policy is far worse. Super and homes belong to Australians not Govt!
Jason Clare thinks it's a bad idea because he did not think of it.
ScottsSuperTax
Jason Clare sprooks for the Union Superfund bosses. They want their massive fees!
He is correct. Huge reduction in compounding of their superannuation later in life.
Even there own politicians don’t support it LNPMassiveFail
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