Rudd claims credit for funds management success
Labor is responsible for driving the Australian funds management and subsequent advice industries through its pioneering of universal superannuation, according to Prime Minister Kevin Rudd.
Responding to a question about superannuation policy on the ABC’s Q&A program last night, the prime minister said the success of the funds management and advice sector is proof of superannuation’s economic value.
"I won’t take a lecture from anybody as leader of the Labor Party on superannuation, we brought in universal super for everybody, it wasn’t around before,” Mr Rudd said.
“They said it would collapse the economy – it didn’t – it turned this country into the fourth biggest funds management industry in the world from which a whole bunch of people earn squillions of dollars as funds advisers.”
At the same time, however, Mr Rudd said that if it came down to a choice between fostering the growth of the industry and “equity and fairness”, he would “back equity and fairness anyday”.
Mr Rudd also refused to rule out further tinkering with superannuation policy, fully admitting the policy backflips that have already taken place.
“I’m not going to say I didn’t say [there wouldn’t be further changes to superannuation]. It’s there in black and white.”
IOOF profit sinks, company overhauling advice
IOOF’s profit for the half year flopped, but the group has dived into a plan t...
CountPlus gives Lifeline $100,000 for bushfire recovery
CountPlus has donated $100,000 to Lifeline for the establishment of a hotline to...
FASEA approves additional recognition of prior learning
FASEA has approved applications for the recognition of coursework and further un...