Joyce can't defend One Nation's unmodelled super policy
Joyce could not explain how One Nation's plan to let workers divert a quarter of superannuation would avoid driving inflation.
Barnaby Joyce is now One Nation's Treasury spokesperson. Barnaby Joyce faced tough questions about the party's superannuation proposal.
Under the plan, renters and mortgage borrowers could divert a quarter of their super to their income. Renters and mortgage borrowers could do this for up to three years.
In media interviews, Joyce was pressed on whether this would drive inflation higher. Economists say it would, because people would likely spend the extra cash.
Joyce claimed the money was already in the economy. The real problem is this: One Nation never modelled the policy's impact on inflation.
Joyce later said they lacked staff to do so. But any party can ask Parliament's Budget Office to help.
- Quarter of contributions
- Super diversion amount
- Up to 3 years
- Diversion duration
- Nationals leader
- Joyce's former role
- Yes
- Policy unmodelled
Why it mattersInflation is already running hot. Launching a major economic policy without knowing its costs is reckless. This damages One Nation's credibility on money.
AustraliaOne Nation's super plan could affect millions of Australian renters and mortgage holders if ever adopted, but its lack of proper analysis suggests the party is not ready for government.
✓ Claims checked against the source. checked 2 d ago
