Labor urged to hold fire on super rise

Original article by Andrew Tillett
The Australian Financial Review – Page: 7 : 4-Apr-18

The superannuation guarantee is currently slated to increase to 12 per cent in 2025. Labor had originally legislated for the super guarantee to reach this level in 2019, and employers’ groups have cautioned against any move to bring forward the Coalition’s revised target date. Jenny Lambert of the Australian Chamber of Commerce & Industry says any such move could dampen wages growth and would be too costly and disruptive for many businesses. Labor’s employment spokesman Brendan O’Connor stresses that changes to the super guarantee would depend on the state of the Budget.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, BUSINESS COUNCIL OF AUSTRALIA, ACTU, SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION, AUSTRALIA. DEPT OF THE TREASURY

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