MEDIA RELEASE
FOR
IMMEDIATE RELEASE
21 February 2000
INDUSTRY COMMENDS GOVERNMENT INITIATIVE
"The Government is to be commended on its realistic and
positive approach to encourage superannuation savings from higher income earners from 1
April," said Vance Arkinstall, Chief Executive, Investment Savings & Insurance
Association.
"The industry supports the Government proposals announced by
Dr Cullen, Minister of Finance, to encourage those earning over $60,000 to increase their
long-term superannuation savings. The new Government has sent the first signal for many
years about the importance of increased savings and that they are prepared to grasp this
political nettle," said Mr Arkinstall.
"The fact that the Government has acted so quickly in its
new term sends an encouraging signal of its commitment to addressing the ongoing issues
that have created uncertainty and stifled growth in savings. We congratulate the Minister
on his refreshing approach and we look forward to working with the new Government in
establishing long-term sustainable superannuation policies," Mr Arkinstall said.
Ends
Vance Arkinstall
Chief Executive
ISI
