Our Liberal Senator Gary Humphries thinks young people are frittering away their vast earnings because it is “unfashionable” to save money according to the ABC.
Taking his logic a bit further; because of this slavish devotion to fashion they are unable to buy a house, get married and start squirting out children like decent Australians should.
He has a great solution to the problem though! He wants the Government to co-contribute taxpayer dollars to those young people who are wealthy enough to put money into savings accounts rather than spending it all on food, rent, and a skerrig of happiness! (He specifically cites as a *good thing* the superannuation co-contribution scheme whereby the spouses of the wealthy who can make voluntary super contributions get a bite out our hard earned cash)
Helping the wealthy young and the children of the wealthy into the last few rungs on on the property ladder and squeezing out the rest, bloody great policy Gary!
UPDATED: Gary’s media release is now online for those who wish to see his thoughts unadulterated by the peanut gallery.