We’ve only just begun to live
White lace and promises
A kiss for luck and we’re on our way
(We’ve only begun)
Reported in the AFR today is Industry super’s plan to ‘reshape’ business for the long term.
Interesting. Very interesting.
According to former ACTU supremo and Labor Minister, Greg Combet who now chairs both Industry Super Australia and IFM Investors, which is owned by industry funds said:
super funds wanted to partner with government and business
Yes. The 3 horses of the economic apocalypse – big government, big business and big labour – working together. That will be a treat. Then Mr Combet said:
I think from an Australian national interest point of view, obviously it’s desirable to maximise how much capital can be deployed into the domestic economy,
But to maximise investment in the domestic economy for the good of society some things have to be tackled as a consequence of the royal commission.
But are industry funds meant to me managed for the national interest or for the members’ interest? Don’t worry. If they don’t behave, don’t worry, the industry funds will just invest your money overseas.