The Housing Minister has defended a new first home buyers scheme as “the best of both worlds”.

The Coalition will allow first home buyers to withdraw up to $50,000 from their superannuation to help buy a property.

Former prime minister Paul Keating called the proposal a “frontal assault” by the Liberal Party on the super system.

Housing Minister Michael Sukkar told Ben Fordham the criticism stems from the super industry.

“There are many in the industry who see the money as theirs, theirs to control.”

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Image: Getty/Sam Mooy