Tania Lawrence (Hasluck, Australian Labor Party) Share this | Hansard source

Housing is at the centre of the Albanese government's achievements, with the Housing Australia Future Fund, Help to Buy and crisis accommodation addressing real needs. The coalition created a supply problem over their ten years by failing to act. They didn't even have a housing minister. They didn't care. Now, with an election coming, the only suggestion that the Liberals have is for young people, with an average balance in their super of about $25,000, to raid their super for housing.

There are many problems with Liberal policy, and one is that they don't know how to frame policy for people who don't have $12 million portfolios. I'm not alone in this assessment. Economists think the coalition policy is ludicrous. Of 49 economists recently polled by the Economic Society of Australia, 48 voted it down. Economist Saul Eslake describes it as a thoroughly bad idea.

The Super Members Council tells us that in New Zealand the policy has simply not worked. It has caused a severe spike in housing, seen a fall in homeownership by young people, and seen more New Zealanders fall into greater debt. The Super Members Council CEO, Misha Schubert, warns Australians to heed the example in NZ and to not let this happen here in Australia. Australians are already getting nervous about the coalition's secret cuts. Now young people have to worry about the coalition cutting into their retirement nest egg too.

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