Australia's Next Election Will Focus on Superannuation, Says Treasurer
Australia's treasurer, Jim Chalmers, has said the next federal election will be fought over superannuation policy.
Superannuation, often called 'super', is the money Australians save during their working lives for use after they retire.
His comments came after the One Nation party revealed a new plan for how the system could change.
One Nation's leader, Pauline Hanson, says that under her party's plan, people could access some of their super earlier.
She said anyone paying rent or a mortgage could take up to a quarter of their super early, as a 'pay boost'.
This means people would have extra cash now, but less money saved for their retirement later.
Chalmers has criticised this plan. He believes it could leave Australians with less financial security when they are older.
The treasurer suggested this disagreement over super will become a major issue at the next election.
Superannuation is a sensitive topic in Australian politics because nearly every worker depends on it.
In separate news, Sydney will get a new solar farm built inside the city itself.
Solar farms usually cover large areas of land far from cities, so an urban solar farm is unusual.
The project is meant to help the city produce clean renewable energy closer to where people live.
Details about the size and exact location of the solar farm were not fully given in initial reports.
Both stories were part of a wider live news update covering Australian politics on the day.
Vocabulary10 words
- treasurer
- the government minister in charge of money
- superannuation
- savings kept for after someone stops working
- federal election
- a vote for the national government
- access
- to be able to use or get something
- mortgage
- a loan used to buy a house
- retirement
- the period after a person stops working
- financial security
- having enough money to feel safe
- solar farm
- a large site with solar panels making electricity
- renewable energy
- power made from natural sources like sun or wind
- urban
- relating to a city, not the countryside
Quiz
Answer key
1. It will be about superannuation 2. Take up to a quarter of it early 3. It is built inside the city
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
Australia's treasurer, Jim Chalmers, has said the next federal election will be fought over _____ policy.
Superannuation, often called 'super', is the money Australians save during their working lives for use after they _____.
His comments came after the One Nation party revealed a new _____ for how the system could change.
One Nation's leader, Pauline Hanson, says that under her party's plan, people could _____ some of their super earlier.
She said anyone paying rent or a _____ could take up to a quarter of their super early.
This means people would have extra cash now, but less money saved for their _____ later.
Chalmers has criticised this plan, believing it could leave Australians with less financial _____.
In separate news, Sydney will get a new _____ built inside the city itself.
The project is meant to help the city produce clean _____ energy closer to where people live.
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