Home Sydney Josh Friedenberg does not disclose whether modeling is being done for the...

Josh Friedenberg does not disclose whether modeling is being done for the superhome scheme


Treasurer Josh Friedenberg says the coalition “understands the impact” of their housing purchase scheme on the housing market, but did not disclose whether they were involved in the simulation.

On Monday morning, Today presenter Karl Stefanovich asked him three times if the Coalition was involved in modeling.

Each time he could not answer.

On Sunday, Prime Minister Scott Morrison revealed the main part of the coalition’s plan to get more Australians into their first homes, allowing first homeowners to plunge into 40 per cent, or up to $ 50,000 of their pension, provided they reinvest capital gains.

Labor and leading economists have met with a backlash, but Mr Morrison and Mr Friedenberg are adamant.

Camera iconScott Morrison has announced a plan that will allow first home buyers to take advantage of their super to secure a home. NCA NewsWire / Kelly Barnes Credit: News Corp Australia

Retirement Minister Jane Hume said Monday that they expect it to lead to an increase in housing markets, forcing Friedenberg and Morrison to take control of the damage.

“We understand the impact this will have on the housing market, and when it comes to prices, it will be insignificant or insignificant,” Mr Friedenberg said after Stefanovic asked about the simulation for the second time.

“It will (attract) 100,000 buyers to the housing market, and … we say you can access up to $ 50,000,” he said after Stefanovich’s third request.

“It means that if everyone gets access to it, it’s $ 5 billion a year. At present, the housing market accounts for $ 700 billion a year.

“So, Carl, you count: $ 5 billion versus $ 700 billion.”

Stefanovich laughed and told Mr. Friedenberg that it was his job to deduct.

Later in the morning, Mr. Friedenberg learned how the coalition was able to improve budget revenues by $ 1 billion when they revealed full spending.

To gain such an improvement, the government will continue its “dividend on public service efficiency” – essentially an annual reduction in funding for common costs.

When ABC presenter Patricia Carvelas asked Mr Friedenberg where the cuts would come from, the treasurer said it would be decided by individual department heads.

“They are best served as department heads to find out how they will find effectiveness inside,” Mr Friedenberg said.

Carvelas gave it back to him: “You are running. You are responsible for the government’s political decisions – how can you put that on your civil servants? “

Mr Friedenberg said it was “a well-practiced method throughout the Commonwealth”.

“This has been accepted by both sides in the past,” he said.


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