Tuesday 17 May 2022 04:55 AM Australian election 2022: Today show's Karl Stefanovic shuts down Josh ... trends now

Josh Frydenberg has stumbled on housing during a live TV interview - telling Today Show host Karl Stefanovic to 'do the math' even though he is the Federal Treasurer. 

Mr Frydenberg copped a grilling from Stefanovic when he appeared on the program on Tuesday to discuss the Coalition's proposal to allow Aussies to withdraw up to $50,000 from their superannuation to buy their first property if re-elected.

Mr Frydenberg - who's in grave danger of being ousted from his Melbourne seat of Kooyong this Saturday - was repeatedly quizzed about modelling for the Super Home Buyer proposal, amid analysts' claims the scheme will see property prices skyrocket.

He dodged the question four times before an exasperated Stefanovic shut down the interview when the Treasurer told him 'to do the math.'

'No, offence, it's not my job to do the math and I would not be any good at it. That's up to you guys. Thanks for your time, Treasurer,' Stefanovic fired back. 

Mr Frydenberg said the Coalition's proposal would have an 'immaterial' impact on prices as first home buyers make up a $5billion portion of a $700billion housing market. 

'What does immaterial mean? Does that mean a small amount? I don't understand that. Will prices go up or not?,' Stefanovic asked.

The treasurer's response - essentially saying that it was a drop in a bucket - sparked more questions.

'Have you modelled the effect of the scheme on housing prices or was it just a little bit of bubble and squeak,' Stefanovic asked.

'We've worked through this for some time, it didn't just happen overnight,' Mr Frydenberg began.

Stefanovic interrupted: 'Have you done the modelling?

The treasurer replied : 'No,...we've looked at it, and treasury has looked at it.'

'We've had the HomeBuilder scheme, which has seen more than 100,000 people get into their own home, the home loan guarantee scheme which saw more than 120,000 people get into their first home and the downsizer contributions we announced on the weekend which will allow 1.3 million more families be able to access this scheme to downsize their home, which brings more supply in.'

A bemused Stefanovic tried a third time. 

'I just don't know whether you're answering the question. Have you done the modelling yet on the effect on housing prices or not?' he asked.

Mr Frydenberg replied:  'Well, we understand the impact it's going to have on the housing market and when it comes to prices, it will be immaterial or marginal and we've heard that from the Property Council just yesterday.'

Stefanovic interjected to ask one final time had he done the modelling.

'Well, we've understood the impact on the housing market and again, it's, 100,000 buyers into the housing market,' Mr Frydenberg said. 

'We're saying you can access a maximum $50,000. 

'So that means if every single person accesses it, that's $5 billion a year. Now, every year there is $700 billion of transactions in the residential housing market.

'So, Karl, you do the math – five billion versus $700 billion.'

That was when Stefanovic ended the interview. 

It comes a day after Labor frontbencher Tanya Plibersek stumbled live on air, failing to answer a key question about the party's housing policy for close to two excruciating minutes.

On Sunrise on Monday, Deputy Prime Minister Barnaby Joyce asked Ms Plibersek on if Labor's policy to help first homebuyers, by buying a stake in their properties, applied to voters' taxable or gross income.

It was an answer Plibersek, the party's education spokeswoman, refused to directly address for much of the segment, leading Joyce to erupt 'which one is it Tanya?!' and Barr to say she felt sorry for Australian voters.

The two senior politicians were each grilled about their policies on helping first homebuyers, after the Coalition proposed a plan to allow Aussie families to

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