It should be ‘home ownership first and superannuation second’

Liberal MP Tim Wilson says currently under Australian law people are compelled to prioritise superannuation first and home ownership second, however an alternate approach should be adopted.

“I’m arguing it should be home ownership first and super second,” Mr Wilson told Sky News host Peta Credlin.

“It’s simple, if you own your own home, you’ll be better off during your working life and in retirement.

“But at the moment we prioritise superannuation.

“So, what I think we need to do is say that 30-year-olds who have somewhere between thirty three and forty three-thousand-dollars, you can use that, or some of it, for a deposit to buy a home … because you’ll have a better life and then you’ll have a better retirement,” Mr Wilson said.

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