Labor's Spokesperson on Superannuation, Senator Sherry, has yet again attempted to deliberately mislead the public and the media in an attempt to undermine the Government's measure to make the superannuation system fairer, the high income surcharge.
Today Senator Sherry demanded that the Government release the Actuarial Advisory Committee report claiming it contained information regarding the constitutional validity or otherwise of the superannuation surcharge.
Senator Sherry has little understanding of the purpose of this report, which was commissioned by the Government to look into how the high income surcharge could be applied to defined benefit, unfunded schemes and constitutionally protected schemes.
The report has nothing to do with constitutionality of the surcharge legislation. Senator Sherry is aware that the surcharge legislation was introduced after the report was received by the Government.
The Treasurer released the broad arrangements for the application of the surcharge relating to the areas considered by the Actuarial Advisory Committee report on 5 February.
Senator Sherry, by describing the report as "another nail in the coffin of the superannuation surcharge", has shown Labor's true agenda on this issue. Labor seeks to undemmine the high income surcharge, and are willing to deny the battlers greater fairness and equity in superannuation.
Melbourne
12 March 1997
Contact: Richard King 03 96507274 or 0419 683586