More Opposition for Opposition's sake from Labor - Treasury ...

Labor's move to disallow the Government's portability regulations for the second time proves they are only interested in opposition for opposition's sake, ... Skiptomaincontent Search Search Search Home Ministers SenatortheHonHelenCoonan Mediareleases MoreOppositionforOpposition'ssakefromLabor SenatortheHonHelenCoonan Mediareleases Publications Speeches 3December2003 MoreOppositionforOpposition'ssakefromLabor Labor’smovetodisallowtheGovernment’sportabilityregulations forthesecondtimeprovestheyareonlyinterestedinoppositionforopposition’s sake,MinisterforRevenueandAssistantTreasurer,SenatorHelenCoonansaid today. “ShadowretirementincomesspokesmanSenatorNickSherryfeelssostrongly abouttheseregulationsthathecan’tevenbebotheredtodebatethem intheseParliamentarysittings. “He’ssocomplacenthehasn’tevenofferedareasonforopposing theseregulationsbutwillgladlyleaveconsumersinlimboanddragoutadecision onwhetherworkerscanconsolidatetheirsmallsuperannuationaccountsuntil nextyear. “ThisisyetanotherexampleofbaselessLaboroppositiontokeyGovernment reformsdesignedtohandbackcontrolofsuperannuationtoAustralianworkers. “TheGovernment’sportabilitypolicyallowsindividualstomake theirowndecisiontoconsolidatesuperaccountsintoanaccountoftheirchoice butLaborsupportsautomaticconsolidationofaccountswithnochoiceforAustralian workers. “Labor’ssuperpoliciesarebasedonfear,Governmentcontroland lackofpersonalchoice. “JustrecentlyLaborattemptedtodefeattheGovernment’s$1.3 billionpackageincludingamatchedsuperannuationco-contributionmeasurefor lowincomeworkersandareductioninthesuperannuationsurchargeforworkers whocanaffordtosavefortheirretirement. “TheyalsoopposedtheGovernment’soriginalportabilityregulations whichwouldhaveallowedconsolidationfromactiveandinactiveaccounts. “TheGovernment’ssuperannuationpoliciesareaimedatmotivating Australianstoplanandsavefortheirretirementbyprovidingworkerswith greaterownershipoftheirsuperannuationthroughchoiceandportabilityand emphasisingtheneedforeducationandinformeddecisionmaking. “Laboronlywantstogetinthewayofreform.SenatorSherryearlier thisweekcriticisedtheGovernment’sSuperannuationSafetyAmendment Billwhichisraisingthebaronsafetywithinthesuperannuationsystem. “Labor’spoliciesonsuperannuationfocusonprescriptiveregulation andredtapethatwillincreaseadministrationcostsofsuperfundswhichwill inturnbepassedontopolicyholdersintheformofreducedreturns. “OppositionLeaderMarkLathammustabandonoppositionforopposition’s sake. “HemustcallonhisLaborSenatorstosupporttheGovernment’s portabilityregulations.”