AGED care reform measures announced on 20 April are so far removed from the Productivity’s Commission recommendations that the Commission might as well not have bothered.
The Federal Treasury seems to have made it clear to Government that the idea of running a reverse mortgage scheme that would turn the Government into the largest bank in the country is strictly for the birds.
With reverse mortgages out, the idea of including the family home in the aged care means testing was also out.
Exeunt the Productivity Commission.
So what possessed the Commission to float the reverse mortgage idea?
Rumour at the time had it that the independent Productivity Commission had actually been told to go with the family home inclusion idea and the reverse mortgage idea.