Senator challenges ISA chief economist

7 June 2018
| By Mike |
image
image
expand image

A senior Government senator has questioned whether Industry Super Australia (ISA) was acting consistently with member’s best interests by appearing before the Senate Economics Legislation Committee’s review of the Government’s Budget tax cuts legislation.

The chair of the committee, Victorian Liberal Senator Janet Hume, directly questioned the ISA’s chief economist, Dr Stephen Anthony, about the appropriateness of a superannuation-focused body funded by industry superannuation funds appearing before the committee.

She asked whether, given that the purpose of superannuation funds was to further the interests of members, it was appropriate for Anthony to be spending time addressing the Canberra-based committee by telephone from Melbourne.

“How is using your time in this way in keeping with those objectives?” Hume asked.

Anthony responded that his role and function within ISA could be likened to that of a bank economist – “to be analytical and objective”.

In doing so, the ISA chief economist expressed the ISA’s opposition to the Government’s proposed tax cuts, suggesting that taken in combination the proposed personal and business tax cuts would, by the middle of next decade, remove any possibility of a surplus.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

10 months 2 weeks ago
Kevin Gorman

Super director remuneration ...

10 months 3 weeks ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

10 months 3 weeks ago

The central bank has served up a disappointment for punters on Melbourne Cup Day....

57 minutes 36 seconds ago

The fund’s inaugural chief retirement officer is looking to establish a new venture. ...

5 hours 45 minutes ago

The sovereign wealth fund remains cautious of the impact of high inflation as it announces a strong return in its latest update....

23 hours 48 minutes ago