NOTE: Video sponsored by the ACTU
Key points
- It would make house prices increase by more than the maximum amount people could withdraw
- It would cost the government $1 trillion in the long run
- It would leave people with $200k less in retirement savings
- It would significantly affect the returns on all superannuation as funds would need to keep more cash reserves uninvested so it is available for withdrawal
Spud’s goal isn’t to make life better for the average Australian. All the listed negatives are positives for the LNP - make the rich richer, and the poor poorer. Luckily, he’s thick as shit and the average Australian can see what a terrible idea it is to spend your future.
I think you’re giving most Australians too much credit. The other thing is that, if you actually want to own a home, in isolation this might be a good thing - as house prices have been rising faster than super for most of the last 20 years. The problem is that, as a whole, this will cause house prices to increase even more - which only helps people with more than just their PPOR.