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Costello calls for bipartisan super policy certainty
Peter Costello
The Federal Treasurer, Peter Costello, has once again called on the Australian Labor Party to support the Government’s legislative changes to superannuation, arguing policy certainty is needed over the next 30 years.
Speaking on national television this week, Costello acknowledged that many superannuation balances were currently inadequate for retirement and said people would have to rely on the age pension.
“Having said that, we want to encourage people to save more for themselves; that is why I announced in this year’s Budget the biggest reform of superannuation ever,” he said.
Costello said that is why he was appealing to the Opposition to cease playing political games and get behind the Government’s reforms by giving them bipartisan support.
“People need to know that the changes we are putting in place are going to be there for five, 10, 15, 25 and 30 years from now, and if they are assured of that they will know it is the best way to invest your money,” he said.
Costello suggested that if the superannuation amendments had bipartisan support, people would regard super as the most effective savings vehicle and would feel more confident about putting money into superannuation.
AUTHOR
Mike Taylor
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