One Nation’s Reform is Economic Vandalism Dressed Up as Compassion

Pauline Hanson and Barnaby Joyce have once again demonstrated their mastery of doublespeak, using their supposed “compassion” as a cloak for economic vandalism. Their latest target is the Australian superannuation system, which they claim is “broken.” However, upon closer examination, it becomes clear that their proposed solution – allowing people to access their retirement savings early – would exacerbate the problem and demonstrate a fundamental misunderstanding of how economics works.

The COVID-19 pandemic should have served as a wake-up call for policymakers. When over $36 billion was withdrawn from superannuation funds, much of it by those who could least afford to sacrifice future returns, it highlighted the dangers of treating superannuation as readily available cash. Existing early-access provisions already cover cases of genuine hardship, so what Hanson and Joyce are proposing is not a solution but a temporary fix that would ultimately lead to more financial pain.

Their plan would shift today’s problems into the future and make them bigger. It doesn’t address the root causes of hardship – poverty, lack of affordable housing, and low wages – but instead provides a Band-Aid on a bullet wound. This is not reform; it’s economic vandalism dressed up as compassion.

The superannuation system, which is compulsory for Australians working full-time or part-time, has been criticized by some as a “public policy failure.” However, it’s actually the envy of many countries, providing for people in their retirement and reducing pensioner poverty. It also provides a national investment fund for the future, which should be supported rather than dismantled.

It’s puzzling that policymakers are focusing on superannuation when there are far more pressing issues that require attention. As David Hind noted, we should be tackling problems like gambling addiction, the budget deficit, caring for people with disabilities, and funding for initiatives such as artificial intelligence, poor housing affordability, the energy transition, and climate change.

The recent scandal involving Catholic Schools NSW chief executive Dallas McInerney has highlighted the blurred lines between ideology and public policy. McInerney’s admission that he employed operatives who were aligned with the ideological positions of Catholic Schools NSW raises questions about the role of institutions in promoting a particular worldview rather than serving the greater good.

The recent defense of three Scots College students charged with sexual assault by their “old boy” network serves as a stark reminder of the privileges and entitlements that come with being part of these elite institutions. The term “old boys” is often used to describe these networks, but where are the “old girls”? Perhaps it’s because women grow up more compassionate and develop meaningful relationships within other friendship groups without clinging to the old school tie.

It’s time for Hanson and Joyce to put aside their ideology and engage with experts who can provide evidence-based solutions to Australia’s pressing problems. Anything less is just a recipe for economic vandalism disguised as compassion.