Super funds are not a piggy bank for Labor’s pet projects
Chalmers’ vow to put to bed “needless brawls” on super is contradicted by his attempts to wager Australian’s retirement savings to prop up nation-building policies.
The Australian Financial Review has been a consistent critic of the Albanese government’s predilection to use the nation’s $4.2 trillion compulsory retirement savings system as a vehicle to deliver on its policy ambitions.
In his first term, Treasurer Jim Chalmers conscripted both the superannuation industry and Australia’s A$307 billion Future Fund to prioritise national interest investments in residential housing, renewable energy and infrastructure projects. It marked the first time a federal government had prescribed specific asset classes for superannuation funds to consider.
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The Australian Financial Review’s succinct take on the principles at stake in major domestic and global stories – and what policy makers should do about them.
