Govt urges long view on returns
Wayne Swan
The Federal Treasurer, Wayne Swan, has sought to dampen concerns about declining superannuation returns, reinforcing that super represents a long-term investment.
Swan used a press conference in Canberra to make clear the Government’s view, maintaining that investment was for the long-term and that it was a case of “swings and roundabouts”.
He said it was important for the Government to put the economy in the best space to grow to ensure the continued profitability of companies that superannuation funds were investing in.
Looking at the question of superannuation funds investing in infrastructure, Swan denied there was any need for the Government to move to make such investments more attractive.
“The superannuation industry will make its investments based on its commercial assessments of projects,” he said.
Swan said that what the industry had been crying out for was a national body that would rank projects, provide benchmarks and offer a degree of certainty.
AUTHOR
Mike Taylor
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