When veracity trumps opacity

Squizzy

19 September 2022

Many things have changed since the May Federal Election not least the chorus of voices emanating from the Liberal/National Party calling for changes to the superannuation regime, most of them aimed at reducing the perceived influence of industry superannuation funds.

Gone, or much diminished, are voices such as those of the erstwhile member for Goldstein and former chair of the House Standing Committee on Economics, Tim Wilson, the erstwhile member for Mackellar, Jason Falinski and the still serving but less noticed, NSW Senator, Andrew Bragg.

Each of these Liberal politicians loudly paraded their suspicions of industry funds with Wilson proving the most ardent of the three by using his status as chair of a Parliamentary committee to fire off scores of questions to almost all the industry funds in Australia plus the odd fund manager not even involved in superannuation.

So, Squizzy reckons this dynamic trio would be delighted that while they are no longer in Government and therefore the media spotlight, their arguments have been taken up by columnists in the national business daily newspaper, Australian Financial Review.

The Assistant Treasurer and Minister for Financial Services, Stephen Jones, could hardly miss the fact that particular columnists have not been impressed by his efforts with respect to Superannuation Annual Members’ Meetings and proposed amendments allowing super funds to report expenditures in aggregate rather than in itemised detail.

Jones may find dealing with campaigning journalists equally as challenging as dealing with campaigning politicians but he would do well to reflect on how little political capital will accrue from being seen to make what should be transparent opaque.