The Assistant Treasurer, Kelly O’Dwyer has accused the former Labor government having “ripped about $8 billion out of superannuation” during its six years in office.
Speaking on radio about the Government’s policy intentions for superannuation, the Assistant Treasurer indicated that the objective was to create greater certainty with respect to the direction of superannuation policy.
“The Government believes that the retirement incomes of Australians is critically important and we want to encourage people to save for their retirement futures, and we do that very significantly through tax concessions that we apply to superannuation,” the Assistant Treasurer said.
However, she noted that “there is a very long lead time though in relation to superannuation, which is why you have to be very careful when you make any potential changes to super”.
“Now we know that the previous Labor Government ripped about $8 billion out of superannuation in their six years in office. That has an impact on people when they think about how they save their money and how they prepare their retirement incomes,” O’Dwyer said.
She said that this why the Government was being “very cautious and sensible in the way that we approach this”.
