Election 2022: Scott Morrison’s super plan slammed in focus groups

Prime Minister Scott Morrison’s super house plan has been lambasted by Labor focus groups who feared it would ‘inflate house prices even further’.

Voters expressed serious concerns about Prime Minister Scott Morrison’s super-homes plan in Labor focus groups overnight, fearing it would ‘inflate house prices even further’.

Under the plan, voters could loot their super for up to $50,000 to buy a home — as long as they already had $125,000 in super or up to 40% of their savings.

Overnight, the ALP spoke to voters in focus groups in the constituencies of Bennelong in New South Wales, Pearce in WA and Deakin in Victoria about the idea.

All three seats are on the ALP’s possible slate although Deakin, who is held by Housing Minister Michael Sukkar who designed the policy, would be less likely than the other seats.

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The news isn’t good for the Prime Minister over the super plan for homes according to voters, with one suggesting it ‘looks good at first but look at the fine print’.

“If it was such a good idea, why didn’t he do it before the week before an election,” said one voter.

“I’m not sure they thought about it,” another voter told the focus group.

“The intention is good, but will have the opposite effect,” said another.

The impact of the scheme on house prices was a big concern. On Monday, Pensions Minister Jane Hume suggested this could have a short-term impact.

This is also a factor that worried voters in the focus groups.

“It will only inflate house prices even more,” said one voter.

“Great is for your retirement. (It’s) putting band-aid solution on something that will create bigger problems later.

“We can’t afford to retire everyone.”

Labor strategists signaled that there appeared to be two major objections.

“We were at a few places last night. Bennelong, Deakin and Pearce,’ a Labor source said.

“In all three places, people didn’t like it. They seem to have sort of two objections. One was that they thought it would only inflate property prices.

“So there was an opinion that it was poorly thought out. And there was real cynicism about it. Voters were saying, “The election is in six days and they’re going out with this? It was therefore a bit like arriving so late.

Senator Hume revealed on Monday that they expect this to drive up housing markets, prompting Messrs. Frydenberg and Morrison to control the damage.

“We understand the impact this is going to have on the housing market, and in terms of pricing it will be immaterial or marginal,” Mr Frydenberg told the Today Pin up.

“It’s going to bring 100,000 buyers into the housing market and…we’re saying you can access $50,000,” he said after Stefanovic’s third request.

“That means if every person accesses it, that’s $5 billion a year. Now, every year, there are $700 billion in transactions in the residential housing market.

“So Karl, you do the math – $5 billion versus $700 billion.”

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