Super tax increase is a ‘broader asset management tool’ and a ‘modest change’

Employment and Workplace Relations Minister Tony Burke says the government’s tax increase to superannuation balances over $3 million is a “very modest change” and will be used as a “broader asset management tool”. “People know that we do need to raise additional revenue,” he told Sky News Australia. “We’ve been left with a trillion dollars of Liberal debt. “Just the mere servicing of that debt … is now the fastest growing section of the budget.”