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Productivity Commission report shows need for super shakeup

Greens Treasury spokesperson, Senator Peter Whish-Wilson, says the Productivity Commission Report into the superannuation industry proves once and for all what the Greens have been saying for years – the super system is rigged in the interests of wealthy trustees and fund managers and needs a major overhaul.

 

"The super system has been operating for years in the best interests of the wealthy trustees and fund managers overseeing it and not in the interests of everyday Australians. Banks simply are not fit to be super trustees," Whish-Wilson said.

 

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2018 in Review

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It's time to move from bank-bashing rhetoric to bank-changing policies

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Endless greed in the banking sector won't be stopped without major reform

Greens Treasury spokesperson Senator Peter Whish-Wilson and Leader Dr Richard Di Natale have this afternoon welcomed the release of the interim report of the Banking and Financial Services Royal Commission, saying we must now undertake serious reform to clean up the endless greed in the sector.

“Scott Morrison famously said when announcing this Royal Commission that it would not be ‘capitalism on trial’, but it’s now clear that’s exactly what it is, certainly it’s the worst excesses of capitalism on trial,” Senator Whish-Wilson said.

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Giving Robert financial regulation responsibility shows contempt for Royal Commission

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