Australian Politicians Clash Over Plan to Use Superannuation for Rent
A political argument has started in Australia over a proposal from the One Nation party about superannuation, the money Australians save for retirement.
One Nation wants to let people take 3% of their superannuation early and use it to pay rent or their mortgage. Supporters say this could help with the cost of living.
However, Financial Services Minister Daniel Mulino has criticised the plan strongly. He said it would leave people $25,000 worse off by the time they retire.
Mulino pointed out that it took decades to raise the superannuation guarantee, the minimum percentage employers must pay, to 12%. He suggested the new plan could undo years of progress.
Meanwhile, Treasurer Jim Chalmers accused the opposition Liberal party of 'photocopying' One Nation's policies, suggesting the Liberals are copying ideas instead of creating their own.
Separately, independent senator Helen Haines said Australians are 'fed up' with alleged pork barrelling, where governments are accused of spending public money in ways designed to win votes rather than help the whole country fairly.
The debates form part of a wider day of political discussion, with superannuation policy once again becoming a major topic in Australian politics.
Vocabulary7 words
- superannuation
- money workers save regularly so they have income after they stop working
- rent
- regular payment made to live in a home that belongs to someone else
- mortgage
- a loan from a bank used to buy a house, paid back over many years
- worse off
- having less money or fewer benefits than before
- photocopying
- copying something exactly, often used to criticise unoriginal ideas
- fed up
- annoyed or tired because of something happening for too long
- pork barrelling
- using public money for projects that help win political support, rather than fairly helping everyone
Quiz
Answer key
1. Letting people use 3% of it for rent or mortgage payments 2. $25,000 3. Copying One Nation's policy
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
A political argument has started in Australia over a proposal from the One Nation party about _____, the money Australians save for retirement.
One Nation wants to let people take 3% of their superannuation early and use it to pay _____ or their _____.
However, Financial Services Minister Daniel Mulino has criticised the plan strongly. He said it would leave people $_____ worse off by the time they retire.
Mulino pointed out that it took decades to raise the superannuation guarantee to _____%.
Meanwhile, Treasurer Jim Chalmers accused the opposition Liberal party of '_____' One Nation's policies.
Independent senator Helen Haines said Australians are '_____' with alleged _____, where governments are accused of spending public money to win votes.
The debates form part of a wider day of political discussion, with _____ policy once again becoming a major topic in Australian politics.
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