Fed: Costello steps up govt attack on Labor s super policy

AAP General News (Australia)
04-11-2001
Fed: Costello steps up govt attack on Labor s super policy

Treasurer PETER COSTELLO has stepped up the government's campaign over superannuation,
saying Labor's proposals will send small businesses to the wall.

Mr COSTELLO also says the government wants to simplify superannuation, but cannot do
it until it has finished reforming the tax system.

Mr COSTELLO has repeated the government's claim that Labor wants to raise employer
superannuation contributions to 15 per cent, from the nine per cent level they will reach
next July.

This is despite the Australian newspaper, which originally published the 15 per cent
claim, having admitted that its report was incorrect.

Mr COSTELLO says there won't be any increase in the compulsory levy employers have
to pay under the current government.

Meanwhile, opposition treasury spokesman SIMON CREAN has repeated Labor's plan to set
up an inquiry into superannuation if it wins government.

AAP RTV jph/wz/alt

KEYWORD: SUPER (CANBERRA)

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