In short:
The Coalition is considering allowing the use of super as collateral, or withdrawing a sum for a house deposit or to pay off a mortgage, in a bid to lift home ownership.
asserted
Coalition → consider → ownership
It comes amid a heated political debate over superannuation, with Labor slamming a One Nation policy that would allow people to pocket more of their income.
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people → come → income
Shadow Housing Minister Andrew Bragg will argue there needs to be a national conversation about super and housing in a speech today, but the opposition has not yet announced any policies.
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opposition → argue → policies
The Coalition has entered the political fray over super, re-litigating the argument that the retirement savings scheme should be used to help people buy a home — but has stopped short of announcing any policies.
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people → enter → policies
Shadow Housing Minister Andrew Bragg will give a speech later today where he is expected to float ideas about how super could be used to boost home ownership ahead of retirement.
uncertain
super → give → retirement
"We don't want to become a nation where renting in retirement becomes mandatory," Senator Bragg told ABC News Radio on Tuesday.
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Bragg → want → Tuesday
"We want to have a country where people can live in their own house …
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people → want → house
if their superannuation can help them do that, then we should look at that."
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we → help → that
Senator Bragg said multiple options had been canvassed by the Coalition, including using super as collateral for a loan, or withdrawing a lump sum for a house deposit.
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options → say → deposit
But he said he was not advocating for any particular solutions for now, ahead of a speech he will give at the Financial Services Council later today.
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he → say → Council
"You could keep the money in the system and it could operate as a collateral or an offset," he told ABC News Radio.
uncertain
he → keep → Radio
"You could take it out to pay off a mortgage or to pull together a first home loan.
uncertain
You → take → loan
"
While stressing that the Coalition had not settled on its formal policy, Senator Bragg insisted there was a need to look at different ways super could be used to help people buy their first home.
uncertain
people → stress → home
"I think most people would want their well-paid politicians to be pushing out the boat on some ideas that might be able to help them achieve their goal of home ownership," he said.
uncertain
he → think → ownership
The Coalition's policy at the last two elections was to allow people to withdraw $50,000 from their super to put towards a house deposit.
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people → allow → deposit
Senator Bragg did not say if the opposition would keep that policy, but admitted a "credible critique" was that it was more likely for people in their mid to late 30s who would have accrued that amount, and therefore the policy would not have significantly helped younger people.
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policy → say → people
Superannuation has become a political flashpoint in recent weeks, with One Nation releasing a policy that would allow people to divert funds from their super to be able to pay their rent or mortgage.
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people → become → rent
That policy would permit people to keep 3 per cent of their salary that would otherwise go to super for a three year period — which would be $2,300 per year (or $44 per week) for a person on a $90,500 salary.
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which → permit → salary
Some critics have said the measure could be inflationary in the short term and would impact the compound-interest growth of super savings in the long term.
uncertain
measure → say → term
Labor slammed the One Nation policy and has declared the next election will be a "referendum" on superannuation — a key creation of the Labor Keating government in the 1990s.
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election → slam → 1990s
Under the government's first home super saver scheme, people can make voluntary contributions to their super, allow it to accrue interest, and later withdraw up to $50,000 of that money as part of a home deposit.
Treasurer Jim Chalmers said the Coalition and One Nation were "coming after super" and they wanted to "vandalise" the retirement savings scheme.
"
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they → make → scheme
They hate super.
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They → hate → super
They always have and they always will," Mr Chalmers told ABC Radio National on Tuesday.
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Chalmers → have → Tuesday
It would make people worse off.
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people → make → ?
Shadow Treasurer Tim Wilson would not comment on whether Shadow Cabinet had seen a proposal of Senator Bragg's ideas.
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Cabinet → comment → ideas
But he said those ideas were "a welcome part of the conversation" amid an increase of people reaching retirement without owning their home.
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people → say → home
"The biggest leading indicator of poverty in retirement is people don't own their own home," he said.
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he → own → home
"This is why home ownership is so important, and we need it to take precedence as the primary economic interest for retirement and during your working life."
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it → need → life
Mr Wilson said housing was a key component in forecasted falling fertility rates signalled in yesterday's Intergenerational Report.
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housing → say → Report
"The reality is, with the cost of housing continuing to rise, there's a direct correlation between that and, of course, family formation," he said.
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he → continue → course
"Part of the challenge is the government and the Labor Party continue to prioritise superannuation over home ownership, which means people are buying later and at higher price, which means that Australian families are being kneecapped from the start.
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families → continue → start
Senator Bragg will argue in his speech that in retirement, Australian's are best served by owning a residence as a top priority, and secondly owning financial assets to draw an income or replace the pension in their old age.
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's → argue → age
He said 12 per cent of Australians' income is going towards providing or overproviding for the latter.
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cent → say → latter
"If Australians can reorient some of their super savings early in life (for example, a loan from super for residence), they can optimise their objectives," he will say.
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he → reorient → objectives
The Aporia
