Vote Labor? Kiss Your Super Goodbye

I’ve long suspected pumping money into superannuation (over and above what was compulsory) was going to be the biggest mistake of any of our lives; all those billions, just begging to be spent on one crackpot scheme after another.

Well get ready. The Australian ALP has history:
“Wayne Swan stated that taxpayers’ superannuation should be used to pay for ‘social infrastructure – schools, hospitals, public housing, aged and child care.’ (26th July 2006).

In July 2000 Mark Latham came up with a new proposal that education could also be funded by siphoning off superannuation funds. He stated that “I envisage a national system of Lifelong Learning Accounts. … The accounts would be financed from a variety of sources…resources drawn forward from superannuation funds.” (Source: Speech by Mark Latham, “Unchain my Mind Forum”, Melbourne, 27/07/2000)

Labor’s then leader Simon Crean added in November 2002 that people’s savings should be diverted into building and managing housing. “Let me raise a different approach,” he said, “one which sees the Government in partnership with Australia's greatest financial asset – our superannuation funds, to build and manage housing, primarily for the benefit of struggling Australian families.” (Source: Simon Crean, Speech to the National General Assembly of Local Government, 4/11/2002)

Labor’s former President Carmen Lawrence wrote in the CEDA Journal of July 2001 that “Labor is examining ways of overcoming some of these obstacles and increasing the level of investment by superannuation funds in venture capital.” (Source: CEDA Bulletin, July 2001, page 58)

Labor’s then industrial relations spokesman Craig Emerson said in 2002 that “Labor could consider seed funding for the establishment of regional investment vehicles into which the superannuation funds were channelled.” (Source: Craig Emerson: Speech “Thriving Industries in an Innovative Australia” 30/09/2002).”
So - no more lump sums (because the Government will have spent it all). . . You'll get your super back as a pension. And if you're very, very lucky, it might even keep up with CPI - but only if you're lucky. Because no matter how much you've saved, and saved hard for, they simply can't (and won't) let you have any more (of your) money than anyone else gets - after all, that wouldn't be 'fair'. . .

By the way, that will be the spin line - the meme faithfully parrotted by the usual Leftard chatterers.

The real reason, of course, is that your money will all be gone. . .

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