Costello on the money
It’s good to hear former treasurer Peter Costello coming out verbally swinging against Bill Shorten’s proposed attack to double-tax franking credits, which will indirectly affect all Australians through their superannuation.
But where was Mr Costello when Malcolm Turnbull and Scott Morrison brought in their policy of capping and changing the conditions in superannuation to defraud frugal retirees and pensioners?
There was a public outcry then which was ignored by former and present politicians.
It’s ludicrous for each political party trying to gain the higher economic ground over the other, when they have both made a mess of the original legislation, which was to remain stable for the future of all taxpayers.
Everything was on the table to be looked at for the Abbott/Hockey tax reform, but any changes to superannuation was off limits. That did not remain the status quo under Turnbull/Morrison.
We now have both Liberal and Labor indulging in a lazy grab at savings, and calling it tax reform.