State Governments should immediately legislate for Superannuation Choice of Fund in State industrial relations systems following an overnight backflip from Labor, Federal Assistant Treasurer Mal Brough said today.
Mr Brough said that he will write immediately to State Governments asking them to legislate for Choice of Fund in state industrial systems after Labor's Senator Nick Sherry announced Labor has ended its seven year opposition to the Howard Government's push for choice.
"I welcome Labor's new found attitude, after seven years of irrational and strident opposition to the benefit of giving choice in superannuation to Australians," Mr Brough said
Senator Sherry told the Investment and Financial Services Association (IFSA) conference yesterday:
"Ironically, one measure that I haven't mentioned today so far is that one of Labor's policies is we will be overriding state industrial awards in respect to a choice regime to ensure a uniform national regime that is consistent across all workplaces for all employees."
"This step by Labor to follow the Howard Government's lead on Super Choice and uniform industrial relations law is a significant win for Australia, and the only things holding it up now are the State Labor Governments" Mr Brough said.
Note: Workers in Western Australia have had superannuation choice since 1998, and most workers in Victoria, the Northern Territory and the ACT will be automatically incorporated into the Federal choice system when it comes into force on 1 July 2005.
Contact: Carlie Hogan - (02) 6277 7360