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Frydenberg hints at delay to super guarantee increase

Treasurer Josh Frydenberg has hinted at a delay in increasing compulsory superannuation contributions after a landmark report said higher rates could hurt wage growth and would be poorly timed given the COVID-19 economic hit and rising house prices.

Releasing the 650-page report by former IMF director and senior Treasury bureaucrat Michael Callaghan, Mr Frydenberg said there was clear evidence the legislated superannuation guarantee increase could hurt wage growth and standards of living.

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Tom McIlroy was the Financial Review’s Canberra bureau chief.
Matthew Cranston was The Australian Financial Review’s United States correspondent.

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    Original URL: https://www.afr.com/politics/federal/frydenberg-hints-at-delay-to-super-guarantee-increase-20201120-p56gcj