Paul Keating has made a dramatic intervention in the debate about allowing first-home buyers to use their superannuation savings for deposits, saying it shows the Liberal party is trying to destroy super. “Instead the Liberal party, limited by its ideological snakiness, continues biting at superannuation, as it does, periodically, Medicare. “And all of this is going on at a time when the same government has committed itself to enshrining the David Murray proposition of ‘superannuation for retirement’ in legislation. Keating says any move to use super savings to purchase a home would destroy superannuation for people under 40 years of age while driving up the cost of housing. “The average superannuation balance of those aged between 25 and 40 hovers around $45,000,” he wrote.

Source: The Guardian March 20, 2017 00:11 UTC