Australia PM, trailing in election polls, announces housing policy
MAY 15 (REUTERS) -Australian Prime Minister Scott Morrison announced a housing policy on Sunday aimed at boosting home ownership and curbing high prices, as his government lags the opposition Labour Party days before a general election.
Australians will vote for a government on Saturday, with recent polls showing Morrison’s Liberal-national coalition on track to lose to centre-left Labour, which would end nine years of conservative government.
Morrison’s Liberal Party formally launched its campaign in Brisbane on Sunday, with Morrison detailing the housing policy at the event in a last-ditch appeal to voters.
“This will increase the opportunity for people to downsize, and increase the supply of family housing stock in the market,” Morrison said.
The policy aims to encourage older Australians to sell the family property, Morrison said. It would enable those aged over 55 to sell a home and invest up to A$300,000 ($200,000) in a superannuation fund outside existing caps.