On face value it may sound appealing to the disengaged but it is just another vote buying thought bubble. It is "smoke and mirrors." They had to do something to counter Labor's assistance to first home buyers.
When people are struggling to put food on the table, pay rent and pay ever increasing fuel and power bills, Labor offers a clear path of reduced total mortgage and consequently lower loan repayments which alleviates some of the demands of the cost of living, Morrison's policy does not. A home buyer will have to borrow the same amount with only the bank's required minimum deposit affected and continue to suffer repayments and cost of living pressures with limited income capacity to service the same especially when interest rates are most certainly to rise by up to 2% in the next few months.
Superannuation wasn't designed to fill in short term gaps in finance but to provide decent living standard to retirees. Paul Keating, the architect of the superannuation system noted his opposition to the proposed LNP policy,
https://www.theguardian.com/australia-news/live/2022/may/15/federal-election-2022-scott-morrison-releases-superannuation-policy-ahead-of-coalition-campaign-launch?page=with:block-6280886d8f08e6ce3a77f458#block-6280886d8f08e6ce3a77f458
" ... The superannuation taxation concessions exist solely to produce a retirement income for people. Its key is preservation. Accumulated funds preserved to age 60 so working people secure the power and benefit of compounding.
Preserved, superannuation savings double roughly every eight years. Over a 40-year working life, at 12% contributions, savings should accumulate to approximately $2 million in today’s dollars. ..."Too good for them, says the Liberal party. We’ll let them pilfer it away in the supposed good cause of housing deposits. Next it will be aged care or longevity or paying out HECS debt – anything to puncture the pool of money they do fervently hate.
If the public needs yet another idea to put this intellectually corrupt government to death, this is an important offence – and with the government, its unprincipled prime minister. "
