Attacks on superannuation and minimum wage

The Union is very concerned that the Morrison government’s proposed changes to superannuation laws would harm consumers and go against the advice of the banking royal commission. The Union is concerned the annual reviews, which were designed to weed out under-performers by preventing funds from taking on new members if they failed to meet benchmark returns for two years in a row, essentially would allow retail funds to continue charging exorbitant fees and diminishing the funds available to people in their retirement. We also hold very strong concerns about the government having powers to veto fund investment and expenditure decisions by superannuation funds. This could have significant impacts on investment portfolios given the Morrison government’s hyperbole directed at superannuation funds about divesting from fossil fuels, and their investment in clean energy projects.

While the Morrison government is attacking superannuation funds, it is also trying to limit the increase in the minimum wage. As usual for the Coalition, this government is pushing a very discredited argument of wages versus jobs. Unfortunately, this was an argument the Fair Work Commission agreed with when they reduced penalty rates, which were supposed to lead to increased employment; and we know that these increases never occurred. Sadly, it appears that the Morrison government will continue to push the same tired argument when it comes to minimum wage increases. There is no evidence that wage increases lead to mass job losses. The Morrison government is also trying to sideline advice from the Reserve Bank of Australia, which has repeatedly stressed the vital importance of boosting wages growth if the economy is to be able to get back to something like normal. For a government that likes to say it fights for working Australians, it always does the opposite in reality; it attacks working Australians and your rights at work.

Whilst we support the recommendations of the Victorian Royal Commission into mental health care, we are concerned that their full implementation requires a determined commitment from the State Government and health services. Having said that we are gobsmacked that there are health services that continue to push for reduced numbers of psychologists involved in delivering mental health care. Monitoring the Victorian Government’s response to the Royal Commission’s recommendations is now an ongoing work for us.

We will always fight for members’ best interests when it comes to your rights at work and making your working life better.

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