Federal Treasurer Jim Chalmers has laid down a new agenda for the $3.4 trillion superannuation sector to build investments in housing and clean energy.
Federal Treasurer Jim Chalmers has laid down a new agenda for the $3.4 trillion superannuation sector that he hopes will steer part of its vast pool of capital toward nation building investments in housing and clean energy., told a roundtable of business leaders in Sydney overseeing $3 trillion in investment capital that super played a role “investing in our national priorities” and “addressing some of our most formidable economic challenges”.
“This is a society that can’t house its own children,” Mr Keating said. “If super funds just think they can go buy tech stocks in America and highways in Italy, they’re going to run into trouble. Without being heavy-handed, there is a requirement of the funds to look at social opportunities.
“We are very conscious that we have to deliver returns which our members have come to expect, because we have delivered for members returns over the last 10 to 15 years of 8 or 9 per cent, which is extraordinary – and that is what is built in.” The gathering would include super investors, banks and venture capital funds to nut-out policy on housing, energy and social impact investing, while also “working out the best place for the government’s own co-investment funds”, including in green power, advanced manufacturing and supply chains.The treasurer’s investment roundtable would be a “genuine attempt to treat super as a potential space for common ground and not just another political battlefield”, Dr Chalmers said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
When it’s worth using an inheritance trustHow to avoid extra tax when a superannuation fund gifts a death benefit to an estate.
Read more »
Australian High Commissioner summoned by Solomon Islands government over ABC's Four Corners reportThe Solomon Islands government hauls in Australia's High Commissioner over the Four Corners program exploring how China has been rapidly building commercial and security ties with the Pacific Island nation.
Read more »
This edtech start-up defies funding squeezeEducation technology start-ups are proving resilient to the tough funding market conditions, with Intellischool the latest to raise fresh funds.
Read more »
Are new high-rises and a station enough to bring life to North Sydney?A building boom is transforming North Sydney’s CBD, but residents and workers still struggle to find a pleasant outdoor space to sit and eat.
Read more »
Canberra schools to have 'in-built' relief teachers as part of overhaul to address staffing shortagesCanberra's casual teacher system is being overhauled with schools encouraged to establish their own 'in-built' relief staff.
Read more »