Coalition re-ignites super debate by floating ideas to lift home ownership

Shadow Housing Minister Andrew Bragg has again 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.

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. While some of his colleagues support the discussion, Opposition Leader Angus Taylor stressed that no policy decisions had been made.

Senator Bragg said the Coalition had canvassed multiple options, including using super as collateral for a loan or withdrawing a lump sum for a house deposit.

“You could keep the money in the system, and it could operate as a collateral or an offset,” Bragg told ABC News Radio. “You could take it out to pay off a mortgage or to pull together a first home loan.” But he also remarked he was not advocating for any particular solutions for now, ahead of a speech he will give at the Financial Services Council later today.

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. Opposition leader Angus Taylor said that was no longer the Coalition’s stance, and refused to engage with Bragg’s idea.