28 September 2007

Labor Shambles on Super Tax Policy

Labor have shown yet again how poorly prepared it is to govern with contradictory statements from one of the shadow finance ministers and the leader of the opposition.

This morning, Nick Sherry was reported as saying that the ALP is looking at cutting the superannuation contributions tax for low income earners.

However, this is news to Kevin Rudd.  At a doorstop today the opposition leader was asked about the policy and replied:

RUDD: "I’ve seen those reports today.  Can I say that we’ve supported the Government’s superannuation changes.  We will not change their approach.  We’ve indicated that on many occasions.  We always are looking for ways in which you can further improve things for people saving for their retirement income.  And if we have anything further to say on that, it’ll be made clear before the election."

How can the Australian superannuation industry, business and hard working Australians have any confidence in a Rudd Labor Government when the leader of the opposition is not being consulted on major policies?

It begs belief that Nick Sherry could even be talking about proposals worth hundreds of millions of dollars without consulting his leader or the shadow treasurer.

This again is a warning sign to the Australian public that Labor lacks both the experience and economic credibility to be in control of Australia's $1.2 trillion superannuation industry.