Sunday 15 May 2022 10:46 AM Albanese slams Scott Morrison letting first home buyers 'raid' their ... trends now
Scott Morrison's latest election pitch to have first home buyers raid their superannuation to buy property has been slammed by Labor as irresponsible.
The Prime Minister used the Liberal Party's election campaign launch in Brisbane on Sunday to unveil his 'super home buyer scheme'.
'I'm going for a second term because I'm just warming up,' he said.
Under the scheme homebuyers will be able to use up to $50,000, or a 'responsible portion', of their superannuation to invest in their first home.
Scott Morrison (pictured with wife Jenny, daughters Abbey and Lily and mother Marion at the Liberal Party campaign launch on Sunday) unveiled his plan to let first home buyers use superannuation to buy property
Opposition Leader Anthony Albanese called the Coalition 'numpties' (pictured with first time voter Maddie Crowthers who said she would 'vote for change' at the Labor rally on Sunday)
Just a week out from the federal election, Labor is arguing the move will only make the housing market more expensive.
'You shouldn't have to raid your super to buy your own home, and you won't under Labor,' Labor's housing spokesman, Jason Clare, said.
He said the increased competition from buyers dipping into their super would only drive up house prices further.
'This would be like adding kerosene to a fire... super will supercharge the property prices.'
He said rather than simply throwing more money into the market, a different approach was needed to bring prices down.
'We've got to make it easier for Aussies to buy their own home,' he said.
Under the Coalition's plan $50,000 can be withdrawn from superannuation to put towards a home but critics said this would only drive up prices (stock image)
Labor leader Anthony Albanese speaking at his own campaign rally in Brisbane on Sunday, said soaring house prices weren't the only issue affecting younger voters as he took aim at the Coalition's inaction on climate change.
'What does it take to give some of the numpties in this Government a wake-up call to tell that climate change is here right now?' Mr Albanese told the crowd.
'Labor has a real plan, reducing climate change, we're adding new jobs and ending the climate wars. That's our plan.
'Young Australians perhaps know better than any of us we must get serious about acting on climate change.'
While both Labor and the Coalition have committed to reach net zero emissions by 2050, Labor's short term goal is more ambitious.
The ALP has vowed to reach a 43 per cent reduction by 2030, while the government has promised to a 26-28 per cent reduction by the same year.
Mr Albanese also took aim at Mr Morrison's admission he can be a 'bit of a bulldozer' when considering alternate views as he pitched he would make a change if elected.
'Even Scott Morrison is distancing himself from Scott Morrison,' Mr Albanese said.
He added that a vote for him would be a 'vote for change' on climate action, Indigenous recognition and 'unity over fear and division'.
Mr Albanese said a vote for him would be a vote for 'unity' (pictured at the Labor rally on Sunday)
Labor member Madonna Jarrett and former Australian Prime Minister Kevin Rudd embrace at the party rally in Brisbane on Sunday (pictured)
Mr Morrison's superannuation housing scheme drew swift responses on Sunday, with former Labor Prime Minister Paul Keating saying it would compromise its purpose.
'The Liberals hate the superannuation system, they object to working Australians having wealth in retirement independent of the government,' Mr Keating said.
The Keating government's economic reforms in the 1980s and 1990s created many financial systems which are in place in Australia including modern superannuation.
'The Libs believe ordinary bods should be happy with the age pension. Let them know their place.' he said.
He urged Australians to vote out the 'intellectually corrupt' LNP and an 'unprincipled' Scott Morrison.
The Financial Services Council, which represents superannuation funds, also agreed, saying accessing super early would weaken the scheme and higher standards of living in retirement.
'The FSC recognises there is a correlation between renting in retirement and poverty amongst older Australians, but Australians should not have to choose between a home and their retirement savings,' CEO Blake Briggs said.
'The government's own majority report into housing affordability and supply in Australia concluded that superannuation should only ever be used for housing if there were commensurate measures to increase supply.'
