Josh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Hansard source

Thank you, Mr Speaker. I would have thought the Leader of the Opposition would be interested in the words of the governor of the Reserve Bank. When asked about the increase in the superannuation guarantee, he said the following:

… increases of this form do get offset by lower wages growth over time. It would certainly have a negative effect on wages growth. There will be less current income and if there is less income, there may be less spending, and if there is less spending, there may be less jobs.

The Grattan Institute said the following:

Increasing compulsory super contributions in the midst of a deep recession would slow the pace of recovery.

ACOSS have also made comments about it, as well as COSBOA representing small businesses.

Ms Plibersek interjecting—

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