Wide Bay workers and retirees need certainty on super
13th February, 2013
Federal Member for Wide Bay, Warren Truss today said the Coalition will restore certainty to superannuation, by ruling out any negative changes to superannuation in the next term of Government.“The Gillard Labor Government has already increased superannuation taxes by over $8 billion and Treasurer Wayne Swan is planning additional taxes on superannuation in the May Budget. If Labor is re-elected, they will continue their war on superannuation,” Mr Truss said.
“Labor has $120 billion of unfunded promises and has refused to rule out more superannuation tax increases after the next election to fill Labor’s black hole.
“Retirees, and those approaching retirement need certainty about the future of their savings. The Government should encourage people to save for their retirement rather than penalising them.”
Mr Truss said the Coalition has made a clear commitment in its Real Solutions plan, that there will be no negative changes to superannuation in the first term of a Coalition Government.
“The Government must also make the same commitment - or come clean about its plan for superannuation. But my concern is that Labor will say one thing before the election on super, and then do another after the election — just like Julia Gillard did with the carbon tax.
Mr Truss said the Government also needed to come clean about its plans for the low income superannuation contribution.
“Labor promised a low income superannuation contribution as part of ‘spreading the benefits’ of the mining tax. But the mining tax has not raised the forecast revenue and the Budget continues to languish in deficit. There is little doubt Labor will scrap this superannuation benefit too.”
Mr Truss said the Coalition would scrap the mining tax and any ‘spending’ linked to the mining tax - the difference between the Coalition and Labor is that we are being upfront about it.
Mr Truss said Australians approaching retirement, retirees and everyone receiving employer super want certainty and confidence in their superannuation and Labor must match the Coalition’s commitment not to make any negative changes to superannuation in the next term.
“Restoring confidence in superannuation is part of the Coalition’s Plan to deliver a strong and prosperous economy”.
