Monday 18th July 2016 - 9:18 am

“Ignore the critics” PM urged

by Alan Thornhill

A body representing older Australians is urging the government to “stick to” its promised reforms to superannuation.

 

The Council on the Ageing says its “integrity will be at stake” if it doesn’t.

 

The council’s, Chief Executive Ian Yates said a small number of Liberal members are seeking bigger tax breaks for the rich, at the expense of less well off Australians.

 

In a statement today. Mr Yates said:  ““The Coalition Party Room needs to stand strong on this.

 

He said that is necessary:  “.. in the interests of good social and economic policy, electoral integrity and Budget reform

 

“… otherwise they will send a message that they govern for the financial interests of the top few percent of wealthy Australians.
 

 

Mr Yates said there are fundamental equity issues here .

 

 

“…superannuation tax breaks cost over $25 billion in foregone revenue.

 

 

He said that is“ – over ten per cent of income tax – and growing fast.

 

 

“Middle and lower earners, the majority of whom are women, have to pay more in taxes – both now and in the future – to pay for super tax breaks that largely benefit high-income men,”Mr Yates said.

 

He said:  “…said the fact that the Prime Minister and Treasurer are under pressure to reverse sound policy to make super fairer, based on a weak narrative about selected poor election results and fewer well-heeled supporters manning polling booths, would be laughable if it wasn’t so serious.”
 

“In fact a few Coalition dissenters giving air to the complaints of a privileged minority created space during the campaign for Labor to ‘dog whistle’ a so-called threat to super; while later banking the whole of the savings from the super reforms” Mr Yates said.


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