And so it begins. Is the end nigh? Has the process of nationalising superannuation begun?
This morning, Adam Creighton in the Australian reports that Peter Costello has proposed that compulsory worker superannuation contributions be invested by government.
In a speech in Melbourne, the former Treasurer and current chairman of the Future Fund urged the government to “show some interest in managing (super) in a cost-efficient way”
Yes. Let the government hold and invest your superannuation for you. The government can invest superannuation into a portfolio of good debt and NBN. Oh and yes. An allocation of Gonski also; after all, Gonski 2.0 is about investing in our children. How about some innovation investment. The government gets lots of great returns from there also.
Plus the notion of Government doing ANYTHING in a “cost-efficient way” is laughable in its own right.
Some Cats may recall an earlier Sparta-post warning people to be careful what they wished for. The comments section took me to task. Well Cats. What do you think now? Are you feeling relaxed and comfortable?
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