The result of a poorer performing and shrinking pool of wealth will be a system that may not cope with the next extreme market events as easily as it did in 2007-08. Future crises will likely require larger Federal Government spending, funded through increasing the deficit.
By addressing the needs of all Australians to have a secure and comfortable retirement we also protect the bottom line of the Federal Budget.
Daniel Liptak is head of alternatives, research at Zenith Investment Partners – www.zenithpartners.com.au
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