Australian Politicians Clash Over Plan to Use Superannuation for Rent
Politicians in Australia are arguing about money for old age. This money is called superannuation. Workers save this money for when they stop working.
The party One Nation has a new idea. They want people to use 3% of their superannuation now. People could use this money to pay rent or a mortgage.
A politician named Mulino does not like this idea. He says it will make people $25,000 poorer when they retire.
Australia's finance minister, Chalmers, said the Liberal party is copying One Nation's ideas. He used the word 'photocopying' to describe this.
Another politician, Haines, said Australians are 'fed up'. She talked about 'pork barrelling'. This means politicians spend public money to help win votes.
It took many years for superannuation to reach 12%. Some people worry this new plan will hurt people's future savings.
Vocabulary6 words
- superannuation
- money saved for after you stop working; old-age savings
- rent
- money you pay to live in a house that is not yours
- mortgage
- money you borrow from a bank to buy a house
- photocopying
- copying something exactly; here, copying another party's ideas
- fed up
- feeling tired and angry about something
- pork barrelling
- spending public money to get votes, not to help everyone fairly
Quiz
Answer key
1. Money saved for retirement 2. Paying rent or mortgage 3. True
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
Politicians in Australia are arguing about money for old age. This money is called _____. Workers save this money for when they stop working.
The party One Nation has a new idea. They want people to use 3% of their superannuation now. People could use this money to pay _____ or a _____.
A politician named Mulino does not like this idea. He says it will make people $_____ poorer when they retire.
Australia's finance minister, Chalmers, said the Liberal party is copying One Nation's ideas. He used the word '_____' to describe this.
Another politician, Haines, said Australians are '_____'. She talked about '_____'. This means politicians spend public money to help win votes.
It took many years for superannuation to reach _____%. Some people worry this new plan will hurt people's future savings.
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