OPINION: The politics might have been clumsy, but that doesn’t mean the superannuation changes the government announced this week are not fair.
If you were being really cynical, you might say the government should have hacked into those stage 3 tax cuts, while leaving super alone. That would have received much the same political angst, but saved a heap more revenue.this week’s “tweak” of one of the superannuation tax breaksAs a policy change, the government’s decision is well-based but has been poorly executed. It is fair – people with very large balances certainly don’t need the level of taxpayer generosity they receive.
It’s premature to say confidently how the politics of this decision will fall out. Many people will see it as reasonable and/or not affecting them. Others will be nervous it could be the first step in changes that might hit their own retirement nest eggs. Some will condemn it as a “broken promise” because Anthony Albanese said before the election he intended to make no changes.Albanese is sensitive about promises.
On the other hand, it is not clear how it can be avoided. If we want to know what a party intends to do on superannuation, surely journalists have to ask its plans and try to get some precision about what is, and is not, on the table.And on other issues too.
The super issue has raised speculation about relations between Chalmers and Albanese. The evidence suggests these are developing along familiar lines.
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