With the challenge of the ageing population, a solid superannuation and retirement policy is essential for maintaining Australia’s economic prosperity into the future.
In the May Federal Budget, the Government announced the most dynamic reforms of the superannuation system in decades.
As part of the reforms, from 1 July 2007, there will be no end benefits tax on superannuation, reasonable benefits limits will be abolished and the co-contribution scheme will be extended to the self employed.
However, astonishingly, we still don’t know where Labor stands on superannuation.
With two parliamentary sitting weeks left, Kim Beazley should finally tell Australians what his policy is on superannuation.
Recently, Mr Beazley gave another of his ‘blueprint’ addresses to the National Press Club.
There was not a single mention of what Labor’s retirement savings policy will look like.
The business community, industry groups and families around the nation support the Government’s reforms.
It is an insult to all Australians that Mr Beazley cannot articulate a clear position on superannuation.