08/12/2008
"Reducing the SG actually improves the Government’s Budget position, because the increased wages would be taxed at a higher rate," Cole said.
"Yes, you do get a short-term reduction in the level of national savings but in the context of this crisis, that is probably an acceptable price to pay to avoid a major recession."
The full text of the economists’ open letter can be read here.
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The outgoing chief investment officer of AustralianSuper Mark Delaney said one of the biggest regrets he will have as he leaves the $410 billion fund is not going overweight on the AI and digital thematic in public markets sooner, as the nation’s most powerful allocator reflects on the investment case of the technology sector in the superannuation summit in New York last week.
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