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The Australian’s Adam Creighton has penned another excellent article attacking the cost of Australia’s compulsory superannuation system on the Federal Budget:
The superannuation guarantee increases costs to the government, which therefore requires a higher tax burden. That’s because the cost of the superannuation tax concessions is greater than the savings to the government in Age Pension costs — both now and in the future.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.