Malcolm Turnbull has achieved a principled compromise on an issue that stoked anger within the Coalition and its base. It was a week of compromise, in fact, as government and opposition found enough common ground to pass $6.3 billion worth of savings measures.
The Australian aruges that common sense has prevailed; the retrospective superannuation cap is gone.
The government said last week it would substitute a prospective annual cap of $100,000 on after-tax contributions for its unacceptable $500,000 lifetime cap with the clock wound back to 2007.
Malcolm Turnbull has achieved a principled compromise on an issue that stoked anger within the Coalition and its base. It was a week of compromise, in fact, as government and opposition found enough common ground to pass $6.3 billion worth of savings measures.
The paper points out that we need more of this.
Through a lower house with a majority of one and an upper house with a sizeable crossbench, the Prime Minister must articulate a compelling economic narrative and negotiate his way towards the national interest.
Now, at least, there is the basis for restoring trust in the integrity of the system. And, in a political sense, there is the basis within the Coalition for renewed confidence in Mr Turnbull now that the superannuation policy has been shifted from the spurious "fairness" of the centre-left closer to a commonsense position on the centre-right.
