Politics Now Is 'fear' behind Labor's super-sized backdown?
Oct 16, 2025
Phil Coorey, Senior Political Journalist at the Australian Financial Review, shares insights on Labor's recent backdown on superannuation tax policies. He discusses the political fears and internal pressures influencing the decision, while analyzing the balance the Coalition must strike amid diverse party dynamics. The role of Paul Keating in advocating for superannuation is highlighted, along with the complexities surrounding the tax implications and the criticism from the Greens. Coorey also previews Albanese's upcoming meeting with Donald Trump amid these changing political tides.
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Backdown Rooted In Political Fear
- The super backdown was driven by political fear inside the Labor leadership about taxing unrealised gains.
- Albanese intervened to avoid a scare campaign that could threaten retirees and the party's standing.
Experts United Against Unrealised Gains Tax
- Taxing unrealised gains was broadly criticised by experts and former officials as bad policy.
- Influential voices like Paul Keating and former officials pressured the government to rethink the measure.
Senate Shift Turned Promise Into Pressure
- The change from a 'zombie' measure to a passable law occurred after the Senate composition shifted.
- That shift forced the government to confront political and technical flaws it had previously ignored.