Never commit to do something before you know what it is


Having committed a future Labor Government to implement ALL the recommendations of the Hayne Royal Commission, Mr Shorten and Mr Bowen will find implementing 1 particular recommendation  quite interesting.

Hayne has recommended that employees’ default super account follows them.  This will present a very interesting proposition to the ALP’s benefactors, the industry super funds because it will necessitate a separation of superannuation policy from industrial policy.

A kid who works in the morning for a supermarket and is on a Shoppies enterprise agreement has to send their super to REST.  The same kid working in the evenings for a pub on a United Voice enterprise agreement has to send their super to HOST.  Same kid, 2 funds, 2 insurance schemes to opt out from of which they probably can’t claim.

What to do, what to do.  And what about the superannuation account management industrial complex – all those fees for doing nothing.  You’d think they were working in local government.

Interesting times indeed Mr Shorten and Mr Bowen.  Deliver that one.

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10 Responses to Never commit to do something before you know what it is

  1. stackja

    ALP will change the rules and MSM say clever politics.

  2. Karabar

    Mr. Short and Mr. Bonehead.

  3. Peanut Head has form.
    He didn’t know what Gillard had said but he was sure he supported it.

  4. Pyrmonter

    You’d think he’d have learnt:

  5. Percy Popinjay

    News just in – Josh Frydchickenberger experiences a regrettable road event while out selling the Hayne Royal Commission findings.

  6. stackja

    Commissioner takes aim at NAB

    Mr Hayne was scathing of some bank bosses, particularly the National Australia Bank, for being unwilling to accept responsibility.

    “It seemed to me that there remain elements of unwillingness to recognise, and to accept responsibility for, poor conduct of the kinds examined in this inquiry,” he said.

    Mr Hayne said he was not confident NAB had learned the lessons from the past as he criticised its CEO Andrew Thorburn and chair Dr Ken Henry, a former Treasury secretary.

    He said Mr Thorburn treated the charging of fees for no service as nothing more than carelessness combined with system deficiencies.

    “The amounts of money that just ‘fell into the pocket’ of so many large and sophisticated financial entities, the number of times it happened, and the many years over which it happened, show that it cannot be swept aside as no more than bumbling incompetence or the product of poor computer systems,” Mr Hayne said.

  7. Suburban Boy

    Because there will be many recommendations, Shorten and Bowen have a ready-made out for the default fund recommendation.

    They will simply say that, in accordance with their earlier stated policy, they will implement “practically” or “effectively” all the recommendations. Don’t expect the MSM to pick them up on the small (but all-important) difference between that and “all” recommendations.

  8. Entropy

    They have accepted all the recommendations “in principle”. Bowen repeatedly said the ALP would accept all the recommendations “in principle”.
    “In principle” is apparently an eighteen wheeler kenworth used to drive fast through any recommendation.

  9. Davo

    You’re dreaming, they will ignore what their union bosses don’t like, and no one in the media will hold them accountable for more that one day. What a joke we are going into…and it’ll hurt for a long time

  10. Mike Verran

    Do Not forget which government was dragged screaming just to have a royal commission. Give the opposition some thanks at least.

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