Superannuation
Sir,—The Government’s second attempt at a superannuation bill is clearly little better than the first. Employees are to be taxed 4 per cent of earnings for some illusory benefit 45 years hence. It is obvious that the Government is more interested in obtaining control of a very large sum of money than in promoting social justice. To increase taxes by a much smaller amount for the whole community would be fairer. For example it has been estimated that a 2 per cent increase in company and individual taxes now would raise age and social security
benefits by around 30 -per cent immedately. This would mean that the huge administrative effort envisaged by the Government’s bill would not be necessary. As a piece of social legislation this would seem to make better sense than the proposed scheme.—Yours, etc., J.T. June 21, 1974.
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Press, Volume CXIV, Issue 33568, 24 June 1974, Page 12
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142Superannuation Press, Volume CXIV, Issue 33568, 24 June 1974, Page 12
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