Dominic Perrottet’s announced nest egg policy is a “desperate last grab” from a “desperate, dying government” ahead of the NSW state election, says City of Sydney’s Labor Councillor Linda Scott.
Her comments come after the NSW Premier announced on Sunday a “future fund” for children under 10 if the Liberals win the upcoming state election.
“It won’t benefit a single person for eight years and actually people need help with their cost of living right now,” Ms Scott told Sky News host Paul Murray. “The second reason it’s a bad policy is because the increases that they spoke about where your child might be able to get up to $28,000 – that was the minimum amount they spoke on – that’s modelled on a 7 per cent annual interest rate.
“Something the government themselves had not been able to achieve for at least the last two years with their own investments. “And when you take the money out, there’s likely to be a chunk of tax you’d have to pay on it which will wipe out all the benefits.”
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