One Nation leader Pauline Hanson has labelled Labor’s housing plan as the first step to fulfilling the World Economic Forum's, ‘Great Reset’.

“Anthony Albanese’s plan to take a 40% stake in homeownership is akin to Klaus Schwab suggesting you will own nothing and be happy”, Senator Hanson said.

“It’s another step closer to socialism.”

“If we’re to make housing affordable for Australians, start by closing the door to foreign ownership, and lower immigration numbers - it’s not rocket science.”

Housing Industry Association (HIA) showed 16,107 new homes were built in the first quarter of 2022. Data compiled by the National Australia Bank shows foreign investors purchased approximately 3.7% or 595 of those new homes.

“Foreign investors were also responsible for about 2.2% of established property sales, even though in most instances Australian law prevents them from buying these types of properties.”

“If we’re to cool the housing market to enable Australians a chance of owning their own home, it needs to be without competition from overseas buyers.”

“I strongly support Australians having access to their superannuation to obtain homeownership on the proviso that if the property is sold, the money borrowed from super is returned, and the capital gains are used to fund any future purchase.”

“Having government buy an equity stake in a person’s home is a frightening use of taxpayers money at a time when government should be paying down debt, not racking up more.”

“With interest rates on the rise, Labor’s intervention in the housing market is a recipe for disaster — and the biggest losers will be the people themselves.”