Unions attack “selfish” businesses for opposing tax reforms
Unions are disappointed with several businesses for opposing the federal government's superannuation increase, branding them as "selfish" and cannot see the brighter side of the reform.
According to a statement released by the Australian Council of Trade Unions, the original nine percent of compulsory superannuation will be increased up to 12 per cent, and will provide long-term financial security among Australians.
"The complaints by employers aganst a rise in superannuation are predictably self-interested," ACTU secretary Jeff Lawrence said.
"Their resistance to the government's decision is based on a desire to maximise profits at the expense of an adequate retirement for the workers who generate their wealth."
The ACTU secretary explains that the government is protecting the businesses since the introduction of the boost won't hit full stride until 2019.
Bigger businesses on the other hand will receive benefits through the slashing of company tax rates from 30 to 28 per cent.
The ACTU welcomes the changes and reforms made by the government through a massive new tax on miners. The unions said that retirement packages should not be seized by big multinationals.
Meanwhile, Prime Minister Kevin Rudd hopes that the proposal will promote growth in the economy to avoid the risk of a two-speed economy.
The changes will benefit 720, 000 small businesses in Australia.