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Australia PM, trailing in election polls, announces housing policy -Breaking

© Reuters. FILEPHOTO: Scott Morrison, Australian Prime Minister attends third leader’s debate at Seven Network Studios in Sydney during the 2022 Federal Election Campaign, Sydney, Australia. May 11, 2022. Mick Tsikas/Pool via REUTERS

(Reuters) – The Australian Prime Minister Scott Morrison has announced a housing strategy on Sunday. His government is behind Labor Party’s Labor Party just days before a general elections.

Australians will elect a government Saturday. Recent polls show that Morrison’s Liberal/National coalition is on course to lose to center-left Labor.

Nine years of Australian conservative government would be ended if Labor’s win, under the leadership of Anthony Albanese.

Morrison’s Liberal Party campaign will be officially launched in Brisbane by Morrison on Sunday. Morrison is expected to outline the party at the event and make a final appeal to voters.

“I want to help more and more young families right across Australia to move into their own home and support their aspiration,” Morrison said in a statement on Sunday.

According to the statement, this policy is designed to encourage seniors to sell their family home. This policy allows those 55 and older to sell their homes and put up to A$300,000. (200,000) into a superannuation account that is not limited by the existing caps.

In an election campaign that had been heavily dominated in part by climate change, cost-of-living and national security concerns, the policy aims to reduce high home prices.

Labor’s Albanese stated on Sunday that he supported the housing initiative and described it as a modest announcement.

He said that “This government suggestion is practical” and added, “We’ll support them,” to ABC Television.

After Morrison admitted that he might be a bulldozer and promised to make a change, he made the announcement on Saturday.

Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.