Cost of Labor’s Perpetual Renting Plan
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Labor has given up on home ownership and adopted a perpetual renting plan. I am releasing new data from the Parliamentary Budget Office that shows the cost of Labor’s perpetual renting plan.
This PBO analysis shows the cost to the taxpayer for just a small cohort of 38 year olds.
The PBO found that if a small cohort of 38 year olds used their super for housing, instead of perpetually renting, that alone would save the budget $35m over the forward estimates and $86m in the medium term in Commonwealth Rent Assistance.
Labor won’t consider super for housing because they are beholden to vested interests. They would rather please vested interests than solve the housing crisis.
Labor has four policies on housing. Two failed policies on supply, one dud policy on demand and the perpetual renting plan which is a tax break to fund managers and increased payments.
Labor’s housing policies are finely calibrated for vested interests, not Australians.
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