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Submission to the Senate Economics Legislation Committee Inquiry into the Australian Government Superannuation Imposition Bill

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| Brett Hogan

Submission to the Senate Economics Legislation Committee Inquiry into the Australian Government Superannuation Imposition Bill

Almost a quarter of a century after the introduction of compulsory superannuation, four out of five Australians do not have enough savings to fully fund their retirement.

Yet rather than identify new ways to encourage all Australians to put more money into their retirement accounts, the multi-partisan approach of national policy makers is to treat the $2 trillion worth of private superannuation funds as just another source of taxation revenue as well as a means of pursuing redistributive social policy.

Out-of-control government spending, which increased from $271 billion in 2007-08 to $445 billion in 2016-17 and will pass $500 billion in 2019-20, 2 is clearly driving these changes.

 

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