House debates

Wednesday, 25 August 2021

Questions without Notice

Superannuation

2:17 pm

Photo of Bob KatterBob Katter (Kennedy, Katter's Australian Party) Share this | Hansard source

[by video link] Slithering suits out of Sydney universities contaminate trade unions and now invest all superannuation moneys, with 51 per cent of super going into the stock market—what Maynard Keynes called a roulette wheel. For 70 years, 60 per cent of super, by law, went into government securities. Respected, strong union voices advocate an authority to invest 25 per cent into government secured make-money projects: dams, factories, mining ports—better, surely, than vote-grabbing self-indulgence, ring-roads and Olympic Games?

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