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Labor to examine ‘pathway’ to 15pc super

Michael Read
Michael ReadEconomics correspondent

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Labor will investigate boosting the superannuation guarantee to 15 per cent and has spoken to Treasury about requiring businesses to pay superannuation at the same time as they pay wages, in moves that would face resistance from the business community.

Minister for Financial Services Stephen Jones also confirmed Labor was considering legislating fines against rule-breaking financial services executives as part of a push to pass a package of stalled Hayne royal commission bills by the end of the year.

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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com

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    Original URL: https://www.afr.com/politics/labor-to-examine-pathway-to-15pc-super-20220607-p5arqq