What can we learn from the Greeks?

May 29, 2012

It’s increasingly clear that Greece’s woes are partly to blame on its public pension system — over generous, over subscribed and now underfunded.

Like the rest of the western world, Australia also has an ageing population and some sections of the population are reliant on the government pension.

James Coyle from AustralianSuper tells 3Q that our superannuation system keeps our economy strong and individuals protected. Super is not only a tax-effective way to save, it also reduces pressure on government funding because less people are solely reliant on the age pension.

Although our super savings took a beating in the GFC, superannuation savings of $1.3 trillion helped Australia through the GFC via indirect investment to help Australian companies raise equity and lessen dependence on the overseas debt market.

Spending Funds for Flood Damage

Jan 31, 2011

Q. If the Government introduces a levy to pay for flood damage, which of the following should the Government spend those funds on?

Yes No Don’t know Vote Labor Vote Lib/Nat Vote Greens
Replace and repair infrastructure – e.g. roads, rail, power, telecommunications 92% 3% 5% 92% 95% 95%
Replace and repair public buildings – e.g. schools, hospitals 92% 3% 5% 93% 93% 95%
Compensate individuals who were not insured for flood damage 35% 42% 22% 37% 35% 34%
Compensate businesses for lost income 36% 43% 20% 40% 36% 33%
Compensate farmers for lost income 58% 26% 16% 61% 58% 54%
Compensate workers for lost wages 43% 37% 20% 50% 41% 36%
Compensation for all people affected – regardless of whether or not they have insurance cover 30% 51% 19% 32% 31% 23%

Respondents overwhelmingly supported using Government funding for rebuilding infrastructure and public buildings (92%).

A majority (58%) also supported compensating farmers for lost income. However, they were more likely to oppose compensating businesses or those who were not insured for flood damage. Only 30% supported Government funding for anyone affected.

There were relatively small differences between voter groups – except for compensating workers for lost wages which 50% of Labor voters supported compared to 41% of Lib/Nat voters and 36% of Greens voters.

Comments »


Read Essential's ongoing research on the public response to Covid-19.

Download this weeks Report

Sign up for updates

Receive the Essential Report in your inbox.
  • This field is for validation purposes and should be left unchanged.