A proposal to let home buyers put up their retirement savings as collateral to access a home loan has received “qualified support” from a top-flight economist, as debate rages over how much power people should have over their superannuation.
The coalition has taken a policy of letting Australians siphon $50,000 to buy a home through two unsuccessful election campaigns, while One Nation said it would allow workers to reduce their retirement contributions by a quarter to effectively give themselves a pay rise.
The opposition leader on Tuesday stressed the proposal to use super as collateral is not coalition policy.
3 sentences from our version of the report,
chosen to cover it. Nothing here is written; every line is in the article below.
How
Summarized version
The coalition has taken a policy of letting Australians siphon $50,000 to buy a home through two unsuccessful election campaigns. Senator Bragg said diverting 12 per cent of one’s income to retirement savings coupled with the impacts of demand-side housing policies meant budding property purchasers were being hamstrung in their quest for a home.
Headline check
There is nothing in this headline a machine can check against the report: no figure, no name and no quotation.
A proposal to let home buyers put up their retirement savings as collateral to access a home loan has received “qualified support” from a top-flight economist, as debate rages over how much power people should have over their superannuation.
The idea was floated by Liberal senator Andrew Bragg in a speech to the Financial Services Council on Tuesday as a way of letting Australians act as if they were drawing down their super to help purchase property, while not necessarily draining their retirement savings.
The coalition has taken a policy of letting Australians siphon $50,000 to buy a home through two unsuccessful election campaigns, while One Nation said it would allow workers to reduce their retirement contributions by a quarter to effectively give themselves a pay rise.
Labor has criticized both policies as damaging to superannuation.
The government is clinging to maturing super to take pressure off the age pension in the coming years, as outlined in Treasury’s triennial intergenerational report released on Monday.
The opposition leader on Tuesday stressed the proposal to use super as collateral is not coalition policy.
“It’s Australians’ money, they should have choice in it,” he told reporters in Sydney on Tuesday, adding the opposition strongly supported self-managed super funds.
Shortened to 1 minute
of reading, this version reads 6.7 on the Niral Score.
You are reading our version, not theirs.
This is 7NEWS's report shortened to its most important sentences, in plainer words, with
verdicts and loaded words taken out. Plain description stays, and so do adjectives
that carry a fact, such as "former" or "federal". The reporting, the facts and the quotations
are theirs — quotations are never edited — and the indicators beside it measure
this version. Hover or tap Adjectives to see every one left in the text.
How this outlet filed it, and how we rewrote it
No other newsroom we read has filed on this event, so there is nothing to compare it with yet.
Readers can ask a question about this story here.
Questions and answers are for subscribers.
Sign in
to read them.
Comments are read before they appear where anything in them needs a person to look.
Nothing posted here is ever deleted; a comment taken down keeps its text and the reason,
so the decision can be looked at again. How this works
