Melbourne’s stage 4 lockdown extended by two weeks in ‘roadmap’ as Victoria pursues aggressive suppression strategy. Follow live
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Turnbull said the federal government should have ploughed ahead with the planned legislated increase for superannuation, and that the tone of the debate, with people (mainly from his former party) saying that people should retain control of their own money, is “all a bit patronising”.
I think the compulsory occupational super has been a great achievement in Australia, and I think we should support it.
I don’t agree with the measure to allow $40,000 to be taken out of people’s super. These are desperate times, and governments have two make decisions very quickly but I think frankly, with the benefit of hindsight, that will be seen to have been a poor quality decision.
So you have$40,000 in your super, right, that will compound over time as your investments grow to become a much larger amount. If you spend it all now, and then you have to start from scratch, it will take you along time to catch up. I mean, this is not rocket science…
I wonder whether it wouldn’t have been better to provide more, you know, more targeted support from government because basically, I mean, Paul Keating made this point and it is a fair point, that what was happening was that people mostly on lower incomes were raiding their savings, their legislated superannuation savings to fund current expenditure. And look, there is a libertarian argument that says no-one should be obliged to put money into super, there are plenty of people in the Liberal Party that agree with that. I think it [super] has been a great Australian achievement, and I think chipping away at it is unfortunate.
Turnbull said he was “very surprised there wasn’t a very thorough plan to deal with aged care facilities,” adding that the coronavirus risk in those facilities was “not something that has come out of left field”.
It deserved a lot more thorough, rigorous thinking in advance. It may well have had that, but it hasn’t been communicated.
It easy to criticise, and I think it is important for us to be critical, because we have got to learn from these events, but generally, Australian governments have handled this pretty well. I live in Sydney as you know, our state government, led by Gladys Berejiklian has done an outstanding job, and Sydney has got – it’s a big city, a lot of density, a big cosmopolitan city, a lot of people coming and going – it’s got all of the risk factors, is filled with risk vectors or infection vectors as anywhere in Australia, and yet she has managed so fa, to keep the virus suppressed. And it is a huge credit to her, she deserves a lot more credit and recognition for what she has done.