Using superannuation to fund national interest projects would help the government with its budget problem. But the risk for funds and politicians is that it would quickly get out hand.
Their push to use the superannuation funds as a source of funding forBut it is symptomatic of the fiscal and political pressures they face.
Coalition governments squeeze social spending and cut taxes and leave future Labor governments to deal with the holes in the social safety net. The increases in spending are left to Labor. If you want to see how it’s done, read Churchill’s speeches to parliament in the darkest days of the World War II.
described it: “a kind of off-balance-sheet slush fund to pursue political objectives with members’ money”.
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