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Labor reveals $3.75 billion retiree grab, ‘this is theft!’

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Yesterday’s unbelieve full-page ad from The Australia Institute called for Australians to pay more tax.

It’s “totally barmy!’ says Chris Smith.

A list of signatories to the ad includes former Labor minister Greg Combet and union boss Sally McManus.

Chris says the ad “should act as a warning” to what a Bill Shorten-led government would be like.

Today, it’s been revealed under the ALP’s plan to scrap refundable tax credits for retirees, more than $3.75 billion would be wiped from almost 2,000 small retail superannuation funds over the next 10 years.

“This is theft.

“This is what his union mates want because then people will move into industry funds… the majority of which are run by the unions!

“That’ll give them more money, that’ll give them more power, and that’ll keep Bill in power because they’ll continue to support him in every election campaign.

“So don’t think this has been widely exaggerated or somehow is not a threat, is it dead-set on.”

Listen to Chris’ comments in full below