The Liberal Party has launched its federal election campaign in Brisbane, unveiling two new housing policies to help first home buyers into the market, and older Australians downsize.
Look back on how the campaign launch unfolded in our blog.
Key events
- Housing policy at the centre of Liberal Party campaign launch
- What have Coalition MPs said about using super to buy a house in the past?
- Campaign launch in pictures
- Coalition announces superannuation plan for first-home buyers
- Morrison begins campaign pitch
- Josh Frydenberg's turn behind the mic
- Barnaby Joyce speaking first
- Will the Coalition change its 2030 climate target?
- Will Labor go further than its 2030 climate target?
- Coalition set to launch its housing policy
Live updates
By Georgia Hitch
That's it for today!
Going to wrap things up there for today but thanks for joining along.
Have a great rest of the weekend!
By Georgia Hitch
Housing policy at the centre of Liberal Party campaign launch
ICYMI the main new policy announcements at the Liberal Party's launch were both around housing.
The first is the Coalition's plan to expand a scheme that allows older Australians to downsize and put a big chunk of the sale of their house into their super.
The second is a policy that'll let first home buyers access their superannuation to buy a house. They'd have to already have a five per cent deposit and are only allowed to take out $50,000 or 40 per cent of the savings they have.
You can read more about each announcement in depth at the links above.
By Georgia Hitch
Why is the campaign launch so late?
Why has the LNP launched their election campaign in the final week of the campaign? Shouldn’t this have been done 6 weeks ago?
-Deborah Jackson
Thanks for the question Deborah - you're not the only one who has raised this this morning.
One of the reasons the launch is later in the campaign is to coincide with voters who may only be tuning in now that we're getting closer to the actual election day.
The idea being they could grab the attention of some crucial undecided voters.
But with 900,000 postal votes already received by the Australian Electoral Commission and 1.27 million voting early last week, it's clear many people have already made up their mind.
By Georgia Hitch
What's been happening in the Labor camp?
Both sides of politics have spent today in Brisbane and while the Liberal Party launched its campaign, Labor held a campaign rally.
On a slightly different note, Shadow Foreign Minister Penny Wong has also confirmed that both she and Labor leader Anthony Albanese would attend a meeting of Quad leaders in Japan later this month, if they win the May 21 election.
The leaders of Japan, India, the United States and Australia are due to meet three days after the federal election to discuss regional security.
Anthony Albanese had previously said his first overseas visit if elected as prime minister would be to Indonesia, but said on Insiders this morning if he's elected he'd attend the Quad meeting in the days after the vote.
Penny Wong says a Labor government would visit Jakarta at a later date.
"Usually your first trip would be to Indonesia but by virtue of the Quad meeting that may not be the case but you would anticipate that we understand the importance of securing the region we understand that Indonesia is critical to regional stability and security and we would work very hard at that with an early visit," she said.
By Georgia Hitch
What have Coalition MPs said about using super to buy a house in the past?
Political reporter Henry Belot has compiled this excellent little wrap to give you an idea of how the Coalition's superannuation pitch to allow first home buyers to access up to $50,000 of their super fits with what's been said by MPs previously.
Plans to allow first home buyers to access their superannuation has been a contentious issue in the Liberal Party for many years.
Debate has flared on many occasions, including in 2015 when former treasurer Joe Hockey said it was worthy of consideration given rising property prices.
But as recently as last year, former Prime Minister Malcolm Turnbull described it as a "crazy idea" that would just drive up the price of housing.
"Honestly, that is the worst possible argument," he told an Industry Super Australia event.
Former Finance Minister Mathias Cormann was also critical of the proposal, arguing it could boost demand for homes.
"You want to pursue measures that boost supply and if anything help moderate demand, and that is obviously not something that is on the table with this particular proposal," he told the ABC in 2015.
Then Treasury secretary Ken Henry was also critical and said superannuation "wasn't and never has been designed to support people to buy a home."
Former prime minister Tony Abbott was in favour of the policy, saying in 2017 that superannuation should be as useful as it possibly can be.
"If people would prefer to use it to put down a deposit on a home rather than saving it up for 30, 40 or 50 years' time then, why not? I think this is a good idea," he said in 2017.
Liberal MP Tim Wilson – who is facing a threat to his Victorian seat of Goldstein – has long been a proponent of the policy.
"Superannuation matters. Home ownership matters more. That's why it should be home first, super second," Mr Wilson said on Twitter.
By Georgia Hitch
Your thoughts on the launch
Haven't been able to make a decision between Labor and Liberal before today, but I have to say, Scott Morrisons speech was convincing. I am encouraged by the 'change of approach' and new policies released today but I would be interested to her more analysis.
-Encouraged
Same old promises as 2019 re housing, cost of living costs, security, health, innovation, industry with no accountability of 2019 promises delivered.
Make political parties accountable for election promises and fine them for non issue of such election promises.
-Madeleine
And some comments on the superannuation policy that would let first home buyers dip into their super, up to $50,000, to buy a house
This policy ignores renters entirely (much like most housing policies). Accessing super is dangerous and will reduce your long term retirement savings significantly (compound interest is something we all learnt about in school surely.
-Joshua
Additionally Liberal housing policies seems to do nothing to reduce the over all price of property but only provide the opportunity for people to go into more debt than what they may be able to afford.
Why is no one talking abouut ways we can reduce the ever increase in price rather than ways we can continue to chase the price rise.
I can’t believe they would let people drain their super…I am in the age group of first home buyers and I know so many people who are so desperate they would do it in a heart beat. But it feels irresponsible because it’s just going to come back and bite in 40-50 years when they all have to rely on government pensions (which is bad for them as it’s so little money and bad for taxpayers broadly since they’ll have to fund it)
-Aghast
By Georgia Hitch
Has Morrison's launch done enough to close the gap with Labor?
Jane Hume says she thinks Scott Morrison's speech at the launch was "fantastic" and spoke to the difficult three years the government has gone through.
"This would be one of the first governments in history that has faced not only floods and fires and droughts but also a pandemic, a global recession, a war in Europe and instability in our region and yet, we not only met those challenges but we've come across the other side with a really strong economy, low unemployment, economic growth that is the envy of advanced economies around the world and also better days ahead, and that was really the message of the Prime Minister today, and a strong plan for those better days ahead, a strong economy and a strong future."
She's also been asked, like everyone, whether the Prime Minister's character and his recent comments about changing his approach, is the biggest issue facing the Coalition in the six days until the election.
Hume: "I think he has acknowledged in the last three years, the way he described he has been a bit of a bulldozer because it was such an important job at a time when the country was looking for a leader to get us through to the other side of the pandemic. The most difficult job you could possibly imagine. There was one period of time, I think back in 2020, early 2021, and the combination of the Expenditure Review Committee and the National Security Committee made over 1,000 decisions in the national interest. And where we are today is a testament to the quality of those decisions.
"I think Scott Morrison has said he is there to stand up and be a leader when he needs to be about also has a sympathetic and an ear but he have different gears I think is the phrase he is using and personally having worked with him closely, I have seen those different gears,
"I think that the character assassination that has been done by the opposition to Scott Morrison is not just unfair but it's also entirely unfounded. I cannot fault him on his response to the pandemic so they have decided to go on character grounds and I think it speaks more of Anthony Albanese and his team and the way that they want to conduct this election than it speaks to Scott Morrison and his team."
By Georgia Hitch
What does the Superannuation Minister have to say about Coalition's policy?
Minister for Superannuation Jane Hume says the Coalition's new policy pitch to let first home buyers dip into their super is an important option to give to people.
Hume: "The early release super scheme was an important part of our safety net package in response to the COVID-19. It was an important part of the package because it allowed people, some of whom found themselves unemployed for the first time, to access their own savings to give them financial security at a time of great uncertainty. We know that most people spend the money on paying down bills, paying off their mortgage, paying off a car loan, helping with school fees.
"They did what they needed to do and did it without permission of government to do it and what today's announcement does is allow people to access their superannuation to create a better quality of life now to get them into the housing market, which does not just give them better quality of life now but also give them the economic security in retirement."
Andrew Probyn: Does it come at a cost?
Hume: "It does not and the reason why is when you sell your house that you access your super to buy, you then put the capital gains back into your superannuation, the original amount and the capital gains. It helps you with the quality of life now and economic security in retirement. Unlike the Anthony Albanese scheme, where you have to pay the government back your capital gains. This time, you only pay yourselves back."
By Georgia Hitch
Campaign launch in pictures
This is what it looked like inside the launch room, courtesy of ABC News photographer Matt Roberts.
By Georgia Hitch
Birmingham's takeaway message from Morrison
Simon Birmingham's asked what he'd like viewers of the launch today to take away from Scott Morrison's speech.
He replies:
"I hope they saw in Scott Morrison a leader of competence that is across his detail with a comprehensive plan for Australia. A plan to keep our economy strong, a plan to create more jobs, plan that enables government to continue to invest in the essential services. Everything from supporting first-time buyers to addressing aged care, ensuring that we support people in the most challenging times of their lives, such as battling cancer."
By Georgia Hitch
Won't giving people access to super push up the cost of housing?
Andrew Probyn: You acknowledge that by allowing people to dip into their super, you actually supercharge the ability of some people to buy a first home, that you might only inflate the cost of housing?
Birmingham: "That's why we have carefully calibrated the policy, that it is about being able to take up to $50,000, or 40% of the superannuation balance, we've made sure it's done in a way that gets repaid to your superannuation balance if you sell that first home. Importantly, first-time buyers constitute only around 1% of transaction across the housing market so around 99% of those in terms of setting the price across the market are not first-time buyers.
"We are helping to make sure it's easier for first-time buyers to get in, that with reforms in the last parliament have made sure that people get into the market with a 5% deposit, they will now be able to put this $50,000 potentially from their superannuation, $100,000 as a couple, on top of that 5% deposit, which means they will pay off their home sooner, they will do it with lower interest and only themselves which is a big difference between the policy we are taking to the election and Mr Albanese's policy which sees a government owning a share of their house instead."
By Georgia Hitch
Why is the Coalition allowing people to use super to buy a house?
Greg Jennett: Twice now under the Coalition, through the pandemic and through this, that key is being turned and unlocked. Why? What is the problem with people putting away untouched savings for 30 odd years?
Birmingham: "There are a couple of factors. Making the Australian retirement saving system, superannuation system, more like many of its global counterparts where it is possible to take some of your retirement savings and deploy them to ensure that you have a home, that you own a home, you own your own home and it is perhaps one of the more crucial pillars in terms of being prepared for retirement. Retirement savings review we undertook a term of parliament identified homeownership for senior Australians was one of if not the most important stabilising in terms of ensuring they could live a successful retirement.
"The two very much go hand in glove to work together, the superannuation system has grown to the size and scale, but Australians are making such large contributions, one in $10 earned, going to superannuation, the opportunity to take some of them, a small portion of the course of a lifetime, help set them up to buy their own home sooner and faster with lower rental payments they will face, low interest payments over the life of the loan. That is an opportunity worth seizing."
By Georgia Hitch
What's gone wrong for the Coalition?
A question now from Andrew Probyn about what Simon Birmingham thinks has gone wrong for the Coalition, given recent polling shows it is likely to lose the election.
Birmingham: "It's been challenging as a government, as the Prime Minister acknowledges. We haven't got everything right. When faced with situations unlike anything in Australia's modern history. And we have done things very, very well. The determination as to whether we get re-elected, that is for the Australian people to make that choice.
"I think Australians, I can understand the frustration of living through the pandemic. Lots of things have been irritating, frustrating and annoying as they got in the way of life as you wish it to be. We faced setbacks at different times during the vaccine rollout and we corrected those setbacks in the proof there is that ultimately, we achieved one of the highest vaccination rates in the world and did so within two weeks of our initial target dates that we'd set out. We face those challenges and set backs, we worked as a team to overcome them and deliver."
By Georgia Hitch
What policy changes would the Coalition bring?
Simon Birmingham's been asked about the Prime Minister's "gearshift" recently, that if re-elected he and the government would approach leadership in a different way.
Greg Jennett's asked him what that means in terms of policy - will there be any changes there?
"I think our hope is that in the next four years, we are facing intense international challenges, that we will be best placed to be able to make sure Australians can see the many other things we are pursuing as a government, not just the pandemic management that's overshadowed the last few years. When we delivered $19.1 billion in additional support into aged care which includes measures not just to increase quality and care but also tripling of homecare places under our government.
"We haven't been able to get the attention and focus on these issues, which we now need to make sure are delivered, effectively over the next few years, investments we've made, reforms we're making, to make sure we roll out those new policies."
By Georgia Hitch
Finance Minister on what would be different under a re-elected government
Finance Minister Simon Birmingham is the first government MP to speak to Andrew Probyn and Greg Jennett after the launch.
He says the Coalition's proved it can work in the toughest of times and that a re-elected government would build on that success.
"What we would be doing is making sure we build on our success, the policies we have been outlining through this election campaign.
"To extend that support for Australians, such as continuous glucose monitoring the Prime Minister outlined, the policy that we announced that we are brought forward, Australians can see the priority that the Prime Minister has put on suicide prevention and his real concern for mental health and investment priorities there, but equally they will see lower taxes, lower taxes can be guaranteed under our government, we put in place legislation to eliminate the 37 cents in the dollar tax break which will occur in the next term of parliament, to bring down the 32.5 cents on the dollar tax bracket to ensure around 95% of all Australians would pay no more than 30 cents in the dollar as their top marginal tax rate. It will happen in the next term of parliament."
And a reminder, just because the official part of the launch is over you can still tune in to our post-launch coverage with Andrew Probyn and Greg Jennett on the live stream at the top of the page.
By Georgia Hitch
OK, we're in post-launch analysis now
Expect a few Liberal politicians to give their thoughts about how that went down, but in the meantime - what did you think? Did you listen to that marathon speech from Scott Morrison?
And what do you make of the first home buyer superannuation scheme? I'll bring you some more information on that a little later.
By Georgia Hitch
Coalition announces superannuation plan for first-home buyers
ICYMI in that speech, the Prime Minister just announced a re-elected Coalition government would allow first-home buyers to use their superannuation to help them get into the housing market.
Buyers will be able to take up to $50,000, or $100,000 for a couple, or 40 per cent of their superannuation savings to spend on their first home.
That amount, plus some of the capital gains, would have to be returned to superannuation accounts when the home is sold.
They'd have to have a five per cent deposit already and have savings in their super already.
"Superannuation is there to help Australians in their retirement, the evidence shows the best way to help Austrlaians achieve security in their retirement is to help them own their own home," Scott Morrison said earlier.
First-home buyers can already pull money out of their super to fund their first purchase, but at the moment they can only pull out money they've put in on top of their employer super contributions.
This scheme would allow buyers to tap into their entire super savings.
By Georgia Hitch
Morrison: 'I never leave anything on the field'
Scott Morrison is beginning to wrap up his speech and has come back to the very beginning of this campaign.
"Ladies and gentlemen, I began this campaign by explaining why I love Australia. And we all do. Of course we do. I love Australia and Australians because of our hope. I love their optimism. I love the kind heartedness to one another."
"As a prime minister, you pour your heart and soul into this job every single day. You do all you can to help Australians achieve their aspirations. You don't get everything right. I've never pretended that I have. But I tell you what, I never leave anything on the field. It's a great privilege to serve in this role. It's the great professional privilege of my life. And I'm seeking a second term to ensure that we can take this to the next level, to those better days."
He comes back to one of the Coalition's main campaign lines that this election is a "choice" between a Labor opposition voters don't know, and a government they do.
The PM wraps up and heads off stage, to much applause from the crowd, to a hug from his wife Jenny.
By Georgia Hitch
Now onto national security
The Prime Minister has pivoted now, away from health and onto national security.
Scott Morrison's announced an extra $454 million to accelerate a drone program that will be the "first military combat aircraft to be designed, engineered, and manufaactured in Australia in 50 years".
He says the "benign" security environment we've had up until recently is behind us.
"We live in a far more dangerous and disorderly world most recently demonstrated by Russia's barbaric invasion of Ukraine. But here also in the Indo Pacific, we know we face a rapid militarisation as well as increased malign activities in the form of espionage, disinformation, cyber attacks, foreign interference and economic coercion. In this environment the last thing Australia can afford is weak leadership," Mr Morrison said.
"That is why I am so proud of my security team. I am very proud of Australia's Foreign Minister, Marise Payne."
He went on to compliment others in his team including Home Affairs Minister Karen Andrews and Defence Minister Peter Dutton.
By Georgia Hitch
Prime Minister now on health funding
Scott Morrison has just spent a large chunk of his speech speaking about the Coalition's commitment to funding health initiatives including mental health services, regional health, endometriosis care and research, type 1 diabetes monitoring devices and cancer treatment and screening programs.
He's also announced $375 million for a new cancer centre in Queensland.
