One Nation’s super raid: inflationary today, impoverishing tomorrow

September 7, 2026 — 12:42pm

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It’s unclear what is worse about One Nation’s plan to allow millions of Australians to dip into their superannuation – depriving people of future retirement income years into the future, or adding to the nation’s inflationary pressures right now.

No matter how Pauline Hanson and Barnaby Joyce describe their policy as some sort of costless way to help people deal with their living expenses, there will be a measurable cost in the near and long term.

As Reserve Bank governor Michele Bullock has been at pains to explain for months, interest rates are being pushed up to curb the ability of Australians to spend.

Yes, it’s painful. People have to make tough spending decisions. But the alternative – high inflation that erodes wages and the nation’s economic competitiveness – is infinitely worse.

So One Nation’s idea to give potentially millions of people access to billions of dollars flies in the face of what the RBA is trying to achieve.

‘The people’s money’: Hanson, Joyce defend proposed super shake-up

“Interest rates keep rising,” Hanson noted while announcing her idea. If this policy ever found its way into operation, you can guarantee the Reserve Bank would have to push rates up even higher.

The purported income boost of $44 a week to a median........

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