Is Australian Labor Party a champion of the battlers? Only in rhetoric it seems, as another grand idea slowly disintegrates:
The centrepiece of the Rudd Government’s plan to increase national savings and make housing more affordable – its first-home saver account – is unfair, too complex and may not be available on time, according to a flood of submissions to a Treasury inquiry into the plan. They say it is highly regressive, gives rich savers double the benefit of poor savers, makes no provision for a direct withdrawal of funds if someone’s circumstances change, its eligibility age of 18 is too high, and it may be too complex and costly for superannuation funds to set up by the proposed start date of July 1.
Benefits rich over poor, who would’ve thought? Yet, we note with some sarcasm that Labor party seems to have quite a few unlikely champions of the poor such as waterfront mansion buying former union leaders, millionaire ex-Prime Ministers and certain current Prime Ministers married to millionaires. For the party of working classes, Australian Labor Party is full of fat cats, running dogs of capitalism and curious other individuals that are doing very nicely out of capitalism while denouncing it in public. Like our own “I don’t like Friedrich Hayek, only my wife does” PM.