https://www.onenation.org.au/super-pay-boost
One Nation will give Australians paying rent or a mortgage the choice to take one quarter of their future compulsory super contributions as a tax-advantaged 3% pay boost for up to three years.
“People are working hard and still struggling to get ahead.
Interest rates keep rising. Rents keep climbing. Groceries, power bills, petrol and insurance are taking more and more out of the family budget.
Inflation is hurting Australian families and Labor’s economic incompetence is making life harder.
One Nation wants to give people some breathing room.
If you are paying rent or a mortgage on your home, One Nation will allow you to choose to receive one quarter of your future compulsory super contributions in your take-home pay for up to three years."
- One Nation, Senator Pauline Hanson, One Nation Senator for Queensland, 7th September 2026
What an absolutely top idea!
If you think that this is a good idea, then you might like other ideas such as injecting yourself with petrol, eating spiders, or having your friends kick you in the face repeatedly.
How about we actually play with the numbers that they've given us. Let's assume that the potential earnings rate is a modest 2% after inflation. Let's also assume a period of 20 years; which means that the person is middle aged.
"For a full-time worker earning about $90,500, that means around $2,300 a year after tax, or $44 a week, extra in their pocket."
At just 2%, then the cost of forgone gains is $10,578 over 20 years.
"For a working couple earning $168,000 between them, it is about $4,300 a year after tax, or $82 a week, back in the family budget."
At just 2%, then the cost of forgone gains is $19,714 over 20 years.
"That’s a real boost to help you pay the rent or the mortgage, leaving more room for groceries, power bills and the costs of raising a family."
Just to be clear here, what One Nation is openly saying is that instead of actually trying to put forward any policy which would address the issues of rents and mortgages payments, increasing grocery bills, power bills and the costs of raising a family, their solution as confessed by them is literally for people to eat their own future now.
What's particularly insane about this is that One Nation has campaigned vigorously that changes to the minimum wage would add to inflationary pressure. Pauline Hanson herself actively opposed any increase in wages which were above inflation and Malcolm Roberts has argued in the Senate that wage rises in an inflationary environment can simply be swallowed by higher prices.
At the same time, if this absolutely insane policy actually were to become law, then this policy releases dollars into the economy immediately and does exactly what Malcolm Roberts argued against because the monies taken out of Super would be immediately swallowed by higher prices. When you shift massive amounts of savings into the economy by injecting it directly into the circular flow of money, that's a recipe for instant price rises.
If renters suddenly have more money available each week, then landlords will simply increase their prices. If people wanting to purchase a house suddenly have extra monies available, then markets will adjust to cover that. This is an identical set of arguments against super for first-home deposits. If you can instantly change the numbers of what people can afford for a thing with actually addressing the underlying issues, markets also instantly change.
What One Nation's policy is, is to present itself as the party of working Australians but this policy does literally nothing. If somebody working full-time cannot afford the ordinary costs of living from their current income, then we not only solve nothing be letting them spend part of their retirement but because of the compounding interest issues as worked through above, we actually make people's "retirement" even more grim or steal it away from them entirely.
Let's call this proposal for what it is. This theft of the future. Productivity hasn’t suddenly been rewarded, rents haven't fallen, mortgage haven’t shrunk; if anything all of those things would get worse because One Nation is trying to frame this as a personal choice issue by openly declaring that the poorest of people simply do not deserve a future; nor will they be afforded one.
Cost-of-living problems? Just use Super. Mortgage issues? Just use Super. Rental increases? Just use Super. For every year you steal now, that's tens of thousands over a working life. What's worse is that the thousands which will go missing from retirement after compounding, go straight into the pockets of landlords and richer people; all of which actively makes poorer people's lives worse in the future as well.
I think that's the plan here. Pauline Hanson is still a tory. What this is, is straight out of the tory playbook. Steal the future.
No comments:
Post a Comment