Letters: Lessons from industry super funds

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Industry super and investment, respect for head of state, Voice to parliament, wage growth and data, Kevin Rudd and the Murdochs.

”), despite calling an end to the so-called “super wars”, continues to fight an old ideological battle against the most effective and well-governed part of the system, industry super funds.

The rorting and profiteering rightfully led to members abandoning the for-profit sector, causing the banks to dump their once prized wealth arms because their toxicity could no longer be justified or contained. There is a real risk members’ savings will be scapegoated at the altar of otherwise admirable objectives.To bring a modicum of seriousness to the thought bubble, expand the investment choice now limited to one’s own balance, whereby any citizen could direct the savings of others to suitable social investments, and the idea will abort.

It takes backbone, of course – we are up against powerful bodies who intend to protect their self-appointed right to lend to nations – and can pull many strings to make us keep our begging bowls.It is unfortunate that, in attempting to make a point, your correspondent chooses to use derogatory language by referring to Australia’s symbolic head of state as an “old woman on the other side of the world” and its constitutional head of state as “the old woman’s stand-in” .

 

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