The super guarantee deferral is just the beginning

Postponing the increase to super contributions will make Australia's labour costs more competitive, but high income earners could soon get a nasty surprise.

The deferral of increasing the superannuation guarantee is merely the first step in a campaign to weaken superannuation. It is highly likely that there’ll also be a clampdown on how much higher-income earners can contribute to super, which may be regarded as a trade-off.

In real terms, abandoning the mining tax will cost nothing. The tax Julia Gillard negotiated would have only generated significant dollars if the iron ore and coal prices boomed. In fact they went the other way.

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