The Labor party has restated their support for the legislated superannuation guarantee increase of 0.5 per cent this year.

Senior Labor MP Tanya Plibersek completely dismissed the argument mounted by some Coalition MPs and segments of the business community that increased contributions will deter wage growth.

“It’s just bollocks, really,” she told Jim Wilson.

“The Liberals say you can have an increase in your super, or you can have an increase in your wages, but the truth is they don’t want you to have either.

“We can afford to pay people decently – that’s what builds confidence in our economy.”

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