The recent Gillard/Swan ALP budget epitomises the contempt that the leftards in the ALP have for those who work, those who save, and those who work and save.
The heist of the boomers investment in their retirement is a continuation of the Whitlam/Hawke/Keating vulgar pillage of a generation they despised for their self reliance and attention to service and the advancement of Australia.
ggThe Treasurer's motivation for the two-year delay can be explained by the claim in the budget papers that it will net the government close to an extra $1.5 billion over the next four years, which just happens to be the size of the budget surplus being forecast for next financial year.
Martin Codina, policy director at the Financial Services Council, said that "cutting the concessional contribution caps from $50,000 to $25,000 for two years undermines all Australians who are planning for retirement".
"This is the ninth time since 2008 that the government has changed the rules, equating to $7.8bn less in retirement savings," he said.
Mr Codina's comment was echoed on Thursday by AMP chairman Peter Mason, who told the financial group's annual meeting in Melbourne that "constant changes to Australia's superannuation system ... undermine people's comfort in saving".