Bragg to Reignite Super Fight with Housing Plan

Shadow Housing Minister Andrew Bragg is set to propose a plan allowing Australians to use their superannuation to secure a home loan, reigniting the debate on the use of retirement savings for housing.

The proposal, which is expected to be floated by Bragg, aims to make it easier for Australians to buy a home by using their superannuation as collateral for a mortgage or to increase the size of a loan.

Background on the Proposal

Bragg's plan comes as the Coalition continues to grapple with the issue of housing affordability, with the party having gone to the last two elections with a proposal to allow individuals to withdraw up to $50,000 for a first home deposit.

While Bragg stressed that the opposition had yet to settle on a formal policy, he said he was trying to start a "sophisticated debate" about how retirement savings are used.

"There's a whole lot of different ways you could do it ... it is effectively looking at well now we have 32 per cent of lump sums out of our super being used to pay mortgages at preservation age, which is 60," he told Radio National Breakfast.

"So surely it's worth us looking at whether you could effectively calibrate that earlier."

Reaction from Other Politicians

Shadow Treasurer Tim Wilson was skeptical that policies like the Howard-era "baby bonus" would solve the problem of low fertility rates, saying that unaffordable housing was a major obstacle to family formation.

"I think if you actually make sure that people can afford to buy their own home first, earlier and cheaper, it's better for family formation," he said.

"Instead, the Labor Party has consistently tried to rig the rules to favour superannuation funds and the scale of investments they hold against young Australians buying a home earlier and cheaper."

Triple Zero and Climate Change

Greens senator Sarah Hanson-Young called for control of Triple Zero (000) to be handed to a national body, accusing telcos of putting profits ahead of their customers.

"We think it's time to really consider bringing that back under independent control so that the customer, the public, the safety is put first," she said.

Meanwhile, Prime Minister Anthony Albanese warned the global community that climate change was making extreme weather events more frequent, and that Australia was committed to cutting emissions by 62-70 per cent by 2035.

"We can't rely on the fortitude of our people alone, as tough as they are," he said.

"We need to come together, to meet the problem head on."