There’s a fatal flaw in the Callaghan retirement income review: its conclusion depends on people being able to buy a financial product that doesn’t exist.
Reading the breathlessly awaited Callaghan retirement income review, it’s hard not to think of that Grimms’ fairy tale where a hapless girl risks being put to death unless she is able to spin straw into gold.
Now, the challenge facing former Treasury heavyweight Mike Callaghan wasn’t quite this formidable, nor the punishment for failing as dire.
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Jill Margo was a senior writer at The Australian Financial Review.
