A ‘disgraceful political document’

LABOR has branded the Intergenerational Report a “disgraceful political document” calculated to help sell the Coalition’s “unfair” agenda.

LABOR has branded the Intergenerational Report a “disgraceful political document” calculated to help sell the Coalition’s “unfair” agenda.

As Tony Abbott urged a “bipartisan spirit” in restoring the budget to surplus, opposition treasury spokesman Chris Bowen claimed the report would further undermine business confidence by ­comparing Australia to deeply ­indebted Greece and Ireland.

“The Liberals’ only answer for the challenges facing Australia is to make older people work longer and cut pensions,” Mr Bowen said.

“There is a better way than making people work longer and give them less in retirement; the way of the previous Labor government: increasing superannuation, making it fair for low-income workers, removing age discrimination from superannuation.”

INTERACTIVE: The InterGenerational Report

National Seniors chief executive Michael O’Neill said the stabilisation of pension costs and projected boost in workforce participation should “end a decade of hysteria” about the ageing population.

However, he warned older workers were facing discrimination in the job market and may struggle as the pension age rises.

Australian Council of Social Service chief executive Cassandra Goldie said the IGR ignored the government’s revenue problem. “Where is the modelling of the ­future cost of tax breaks for superannuation, which now cost as much as the Age Pension, $40 billion a year?” she said.

Dr Goldie called for targeted tax hikes on super, stripping wealthy homeowners of the pension and improved benefits and opportunities for the unemployed.

The Australia Institute, a progressive think tank, said the IGR’s “deeply flawed assumptions” were designed to “scare the public into accepting the government’s short-term policy agenda”.