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GREENS ARE THE SLACKERS PARTY

Lazy? Work-shy? Do I have a party for you: "Greens leader Richard Di Natale will call for a radical replacement of the welfare system with a universal basic income scheme where all Australian citizens would receive a regular, non-means-tested wage from the government, with no obligation to work." And grab a $500,000 "loan" from their People's Bank.

Lazy? Work-shy? Do I have a party for you:  

 Greens leader Richard Di Natale will call for a radical replacement of the welfare system with a universal basic income scheme where all Australian citizens would receive a regular, non-means-tested wage from the government, with no obligation to work. 

A quick way to drive the country broke, especially with this bonus scheme for torching government money:

In a speech to the National Press Club today, Senator Di ­Natale will also call for the establishment of a “People’s Bank” to provide low-interest government loans to first-home buyers.

He will propose the Reserve Bank should offer banking services online, via Australia Post and other contractors.

It would offer a no-frills “mortgage tracker” account to homeowners, with those paying off their home able to borrow up to 60 per cent of the value of the property directly from the RBA.

Interest rates would start at 3 per cent, plus 0.5 per cent to cover costs. Loans would be capped at $500,000 for owner-occupiers, repayable over a maximum of 30 years.

Terry McCrann can't believe his ears:

PEOPLE’S Bank? People’s Bankruptcy.

In one stroke, the Greens have announced they are ­totally unfit to have any influence at any time on any ­government policy involving money...

The People’s Bank — a bad idea at any time — proposal is just embarrassingly inept... They would turn the Reserve Bank into a financial soup kitchen, doling out (up to) $500,000 in low-interest loans to most homebuyers.

They obviously don’t have the slightest idea how that would send property prices soaring... They believe that the banks will happily “top up” the RBA loan with a second one, but at the same interest rate they charge on their prime loans now.

The Greens obviously have not heard of first and second mortgages and the way a borrower has to pay a much higher rate for a riskier second mortgage. 

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Original URL: https://www.heraldsun.com.au/blogs/andrew-bolt/greens-are-the-slackers-party/news-story/df625f1304e9f67a9b8fe8f78d94fb63