Coalition pushes using super for home buying despite modelling showing proposal would cost billions

The Coalition is proposing to expand its superannuation for housing policy, including to allow first home buyers to withdraw more than the $50,000 proposed before the 2022 election. Photograph: Glenn Hunt/AAP

The Coalition has amped up its push to let Australians use superannuation to buy a home despite modelling showing the proposal could cost the government up to $2.5bn a year by the end of the decade.

First home buyers would be able to withdraw their entire super balance for a deposit under a recommendation from a Coalition-dominated senate committee, with its interim report on Thursday also canvassing withdrawal caps of $100,000 or $150,000.