Australia politics live: Hanson claims One Nation super plan would be inflation ‘neutral’: NSW pokies losses hit record $2.38bn | Australian politics

Australia politics live: Hanson claims One Nation super plan would be inflation ‘neutral’: NSW pokies losses hit record $2.38bn | Australian politics


www.theguardian.com

Hanson says super plan would be inflation ‘neutral’

Tom McIlroy

One Nation leader Pauline Hanson says her plan to let workers struggling with cost of living access some of their superannuation savings would not push up inflation.

The party’s new policy, released on Monday, would let anyone paying rent or a mortgage take up to a quarter of contributions to their super account as a “pay boost” for up to three years.

It would keep the same tax rate as it would have in super, giving someone on $90,500 an extra $44 a week.

Despite economists warning the plan would hurt the economy and weaken Australia’s system for compulsory retirement savings, Hanson says it would be “neutral”. She said in a doorstop at Parliament House:

double quotation markSo you won’t pump up inflation with it at all. It will affect seven million people that will be open to taking their super out. So it won’t be inflationary.

There would be no restriction on who can access the super cash. She said:

double quotation markIf they want to access that and get one quarter of their superannuation, they’re putting away each week. Like I said, $44 can mean that people can pay their bills, their electricity, put food on the table or get medical attention, so that means a lot to a lot of people.

If it comes to a point of someone being out in the streets, living in a tent or can’t pay the bills in their home, I would rather see them get the help and assistance that they need now, not later in life.

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Key events

Benita Kolovos

Benita Kolovos

Tunnelling begins on Victoria’s Suburban Rail Loop

The minister for public transport, Vicki Ward, this morning has announced the first tunnel boring machine launched from Burwood over the weekend,heading toward Glen Waverly.

A second machine will begin work on the twin tunnels in coming weeks, and a third will launch from Clarinda later this year.

SRL East – a 26km stretch of twin tunnels from Cheltenham to Box Hill – is the first stage of a 90km line planned to eventually travel to Werribee, in the west, via Melbourne Airport.

The project was first announced by then premier Daniel Andrews ahead of the 2018 election, when it was estimated to cost $50bn. His successor, Jacinta Allan, was the minister initially responsible for overseeing its development and championed it while premier.

But the new premier, Ben Carroll, is less of a fan. He recently changed the project’s scope to save $1bn and ordered a review to identify a further $1bn in savings, bringing the total cost of SRL down to $32.3bn.

Speaking on 3AW Radio this morning, Carroll said he’s reached a “sensible centre” on the project:

double quotation markI found the sensible centre here. Billions of dollars of contracts had been signed, and I made it very clear I’m not someone that rips up contracts … I will get the review done on the engineering, the project will continue but I will not sign any more contracts until we have more federal funds.

More on Carroll’s $2bn in savings here:

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