Barnaby Joyce says he’s not ‘Jesus Christ’ and admits One Nation has not modelled super policy in fiery interviews
Summary
Barnaby Joyce, One Nation’s Treasury spokesperson, said his party has not done an economic analysis of their plan to let millions of Australians access part of their retirement savings early. Critics, including the Prime Minister and Treasurer, say the plan is poorly thought out and could reduce retirement incomes.Key Facts
- One Nation proposes allowing renters and mortgage holders to receive part of their superannuation (retirement savings) early for up to three years.
- Employers would still make the full 12% super contribution, but 3% could go directly to workers’ pay instead of their super fund.
- Barnaby Joyce said the party did not model the economic impacts, like effects on retirement income or inflation.
- Joyce argued people would think carefully before withdrawing their super and only do it if it made financial sense.
- The Super Members Council estimated the average worker could lose $25,000 by retirement under this plan.
- Prime Minister Anthony Albanese criticized the plan as weakening the compulsory super system’s rules.
- Treasurer Jim Chalmers called the policy a “shambles” and said it lacks clear economic impact analysis.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
