Highlights
- The Coaltion's proposal will allow first home buyers to access up to $50,000 from their superannuation balance to put towards the cost of a property purchase
- A federal government minister has admitted the Coalition's new housing policy will cause house prices to rise in the short-term.
- Labor has already unveiled a near billion dollar plan to boost Medicare and local general practice.
The Coalition pushed its economic message hard, hoping to convince voters they are the best ones to manage the nation's money.
That economic pitch has been underlined with a plea from prime minister Scott Morrison for voters to look past his personal unpopularity and focus on his job performance. He told the campaign launch he's brought Australia through a lot of tough situations.
The Coalition was also on the attack against Labor's health policy announcements.
If they're elected, the ALP plans to spend $750 million on a new Strengthening Medicare taskforce, and funds to improve patient access to GPs.
Much of the attention however has been focused on the Liberal's housing policy, officially unveiled at the campaign launch.
With house prices at an all time high, prime minister Scott Morrison says that if the Coalition is re-elected, first home buyers will be able to use up to 40 percent of their superannuation, to a maximum of $50,000, to buy a property.
He also says people over the age of 55 will be able to put $300,000 in their retirement nest egg from the proceeds of downsizing to a smaller home, the idea being to free up larger properties for families.
The policy to access superannuation for housing has been widely panned by the opposition and economic experts, who say it will just make homes even more expensive and out of reach.
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