Peter Costello demands “thorough” compulsory super debate

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The legislated increase in the superannuation guarantee continues to attract scrutiny, with former treasurer Peter Costello calling for the issue to be “thoroughly debated” in the Coalition’s partyroom. He says increasing the guarantee from 9.5% at present to 12% by mid-2025 will have “very significant ramifications”:

“This is an enormous decision and … should be thoroughly debated,” Mr Costello told The Australian. “I’m not buying into (whether the rate should change) one way or the other but it is something that should be carefully considered becaus­e it will have very significant ramifications.”

Meanwhile, Paul Keating has once again resorted to slander and lies, labelling Coalition MPs wanting the superannuation guarantee to be frozen at 9.5% “super deniers” and labelling claims that increasing the superannuation guarantee to 12% would stifle wages is “the great lie”:

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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.