Further consultation on Government's superannuation mess

26 June 2016

A Shorten Labor Government will review the Turnbull Government’s proposed changes to superannuation contained in this year’s federal Budget.

Labor will not make the same mistake the Turnbull Government has made in coming to a final view in advance of properly analysing each measure and how it relates to the others. 

Superannuation changes should be made in a careful and cautious way, not dropped on an unsuspecting public on the eve of an election, without due consideration or warning.

The Turnbull Government’s inability to explain or defend these changes has caused a lot of anxiety in the community and has diminished confidence in the system.

Labor will conduct a review in the second half of 2016, to report in early 2017, in time for the Budget and in advance of any legislation being introduced into the Parliament.

We will take the outcomes of the review into account when implementing any proposals which turn out to be fair and workable and when considering any alternative measures which yield similar savings.

Labor has spent recent weeks consulting with the community and key stakeholders on the best way forward and there is still more to be done. It isn’t possible or desirable to understand and untangle all of these complex changes without the resources of government, in a rush, and during a federal election campaign.

Australians already know where Labor stands on extra assistance for low income earners and that Labor wants to deal with the poorly-targeted tax concessions at the top end and repair the Budget, but we will not rush through changes which have not been properly considered.

A vote for Labor on July 2 is a vote for fairer super, and for changes to be made in a more careful, consultative way, unlike the Turnbull Government’s hapless and haphazard approach.