Australians deserve to have their super protected.
Today I moved a motion in parliament, with Fowler MP Dai Le, calling on the government to prescribe that a significant portion of superannuation contributions
be invested in government-guaranteed, money-generating projects, and not the stock market – a roulette wheel or Ponzi scheme.Ms Fowler and I would like to see the return of Australian motor vehicle manufacturing. The government can kick start this by saying “all government vehicles in metropolitan areas will be electric vehicles, and will be Australian made.”
That money would some from superannuation. We’ve done it before, in Queensland we had the 60/40 rule – 60 per cent of all superannuation went into government securities. In the very enlightened government that we had in Queensland, we used that money to build the railway lines and the ports to get our coal and minerals out.
We went from zero to $60,000 million a year in coal and mineral production. We used that money to build the world’s biggest power station.