Swan hits back after Keating's super spray

Thursday August 7, 2008, 6:48 am Federal Treasurer Wayne Swan has responded to criticism from former prime minister Paul Keating, saying the Federal Government will have a comprehensive look at superannuation as part of its tax review. Yesterday, Mr Keating criticised the Labor government for doing nothing to lift the rate of compulsory superannuation contributions from 9 to 15 per cent. He said the inactivity threatened to leave baby-boomers on the verge of destitution during their retirement. Speaking at a book launch in Sydney, Mr Keating also criticised former prime minister John Howard and former treasurer Peter Costello for failing to make the increase while in government. He said the current Labor Government was not showing any signs of trying to reverse the trend. But Mr Swan hit back, telling ABC TV's Lateline that... [read full story]