Former treasurer Peter Costello has backed Opposition Leader Peter Dutton’s super for housing policy, saying members should be able to choose what happens to their money.
Former treasurer Peter Costello has backed the opposition’s plan to let workers tap into their superannuation to buy a home, saying locking away savings to get a better retirement is “not a great a consolation” if you’re homeless in the meantime.
“That might be right or wrong. But to live 40 years homeless, so you have a better retirement, I don’t think is a great consolation. I’d rather have a house for 40 years, if it’s all the same to you.”AdvertisementMr Costello said he did not back a super-for-housing policy when he was treasurer because the economic settings at the time were different, with super contributions 6 per cent in his final year in 2007 compared to 11 per cent now and 12 per cent from next year.
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