We are just one month out from the 2017-18 Federal Budget and the deep divisions within the Turnbull Government’s economic team are on full public display as they argue over whether or not to raid superannuation savings to help address housing affordability.
Malcolm Turnbull’s weak leadership is on full display and he should come out today and rule out this “thoroughly bad idea” of a policy once and for all.
This policy proposal has been widely condemned by a wide range of experts and even senior members of the Turnbull cabinet including Mathias Cormann, who all seem to understand that using superannuation savings to help young people buy a house will do nothing other than erode the retirement savings of younger Australians and push up house prices at the same time.
The retirements savings of Australians are too important to have become a source of internal division within the Turnbull Government.
This crazy idea should have been ruled out by the Prime Minister weeks ago but instead his Treasurer has been running his own show and actively out spruiking the policy idea.
As this public brawl drags on we now have a conga line of Government members giving their free advice to the Prime Minister.
Those against using super for housing:
Those in favour of using super for housing:
It's well beyond time for the Prime Minister to stand up to the Abbott conservatives within his ranks and put the retirement savings of young Australians ahead of his own internal turmoil.
We can't allow super savings to be the next policy to fall victim to the Coalition's inability to stop tearing themselves apart - they've done it on marriage equality, climate change, 18c and now it looks like super will join the list.
THURSDAY, 13 APRIL 2017