Labor says working families won’t have the disposable income to set aside cash in the midst of a cost-of-living crisis for the Coalition’s new policy.
NSW grandparents will be able to contribute to a new future fund for children promised by the Coalition government, but Labor says many working families won’t have the disposable income to set aside cash in the midst of a cost-of-living crisis.to create a dedicated savings fund for each child in NSW to be used towards the cost of education or a home deposit as the cornerstone of his state election campaign on Sunday.
Once children turn 18, they would be able to access the money and use it to contribute to a home deposit, a HECS debt, or tools for a trade, which Perrottet said would transform their lives. However, Labor leader Chris Minns said the $850 million it will cost the government over the next four years would be better spent on the state’s education system. He said many families didn’t have the luxury of putting away cash reserves for decades to come.
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