Former prime minister Paul Keating has described the Federal Governments superannuation freeze as wilful sabotage of the nations universal saving scheme. Yesterday the Government announced that compulsory increases to super contributions would be put on hold until 2021 as part of a deal to secure Clive Palmers support for the mining tax repeal. ... [The] decision represents nothing other than the wilful sabotage of the nations universal savings scheme. And sabotage for reasons only of prejudice, Mr Keating wrote. The governments connivance with [Palmer United Party] PUP to spike superannuation at 9.5 per cent has little to do with the budget balance this year, or in the early out years, and everything to do with cheap ideology. The Liberal party has always opposed universal superannuation and as it revealed yesterday, it still does. As treasurer in the mid-1980s, Mr Keating made changes that are considered the foundation of the modern superannuation system. Mr Keating said Prime Minister Tony Abbotts and Mr Palmers argument about working people being better off with more cash in their hand was tawdry. If Tony Abbotts argument about the value of cash today had substance, there would be no savings, he said. No savings in savings banks, and no savings in superannuation. Yesterdays decision is an appalling one - by a government lacking any genuine or conscientious concern for the nations workforce. #TheLyingAbbott and his #WildDogTeaParty
Posted on: Wed, 03 Sep 2014 10:06:16 +0000
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