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84 days and counting.

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Senator Nick Sherry Shadow Minister for Superannuation and Intergenerational Finance; Banking and Financial Services

Lindsay Tanner MP Shadow Minister for Finance

1 August 2006


It is now 84 days since the Federal Budget and still no costing details of the government’s superannuation reform plan.

The Minister for Revenue and Assistant Treasurer Mr Dutton will be speaking this Friday at the Investment and Financial Service Association conference on the Gold Coast.

This is the perfect opportunity for the Minister for Revenue to provide: • costings of the components of the plan; • release draft legislation; • outline the long term costs in the context of the ageing population;


• an income distribution analysis of benefit outcomes.

Any reasonable government and particularly a competent Minister for Revenue would have done so already. Why keep the specific costs and benefits such as the abolition of the exit tax such a great secret?

Why isn’t the Government following the Charter of Budget Honesty and Intergenerational Report? Given thousands of public servants in Treasury, Tax Office and Finance have done the detailed work, where is it?

It is a fiscally irresponsible government and minister that fails to provide this information to Australians.

It is an arrogant and lazy government that expects a Labor opposition to sign up to an unfinalised, discussion status “plan” without specific costings and legislation.

1 August 2006

For further information contact Nick Sherry 0418482807 or Lindsay Tanner 0419881282