Malcolm Turnbull once called allowing first home buyers to access their superannuation a "thoroughly bad idea" - and he's not backing away from the description.
The prime minister says debate about letting people redirect super contributions into home deposit accounts - which has split coalition MPs before the May budget - has spun round and round "for a long time".
"I've read all of the speculation; standing here in Mumbai I won't contribute to it, although I've expressed fairly strong views about it in the past," he told reporters in India on Wednesday.
The prime minister said the purpose of superannuation was to provide for retirement.
"That's the whole purpose of it and that's why the whole system was set up in the first place," he told Sky News.
His government is planning to make a housing affordability package the centrepiece of next month's budget.
Cabinet minister Matt Canavan wants his colleagues to at least consider the proposal to divert compulsory super payments into a special account, which could then be used for a deposit by first home buyers.
"It seems strange that you're allowed to invest in other people's assets, in equities, in bonds, but you're not allowed to invest in your most important asset in your life which is your own home," Senator Canavan told ABC radio on Wednesday.
Former prime minister Tony Abbott agrees, telling News Corp superannuation is the people's money not the government's.
"Why shouldn't people be able to spend their money on housing now rather than on retirement in 30 or 40 years' time?" he said.
"Along with measures to ease demand, giving homebuyers access to their super would help re-weight the odds in their favour."
However, Nationals MP Andrew Broad doesn't share his coalition colleagues' view.
"Using superannuation to address housing affordability for first home buyers is a lazy response to the problem," he tweeted.
Labor and some crossbenchers have already labelled the idea "crazy".
Prominent economist Chris Richardson said the idea would just pump extra money into an already overheated market.
He said prices could rise by up to one per cent.
"Super is for retirement, not for housing," said Mr Richardson, from Deloitte Access Economics.
