Centrelink stands by decision to reject shark victim pension
Federal Treasurer Wayne Swan says he is con포커fident Government will provide the $1.9 billion in federal funding it needs to support troubled troubled bank TransACT that has faced legal challenges over how it finances pension claims from former employees.
In a statement to the Federal Parliament, Mr Swan said he had always supported a decision to fund TransACT, which had been forced to abandon pension planning after the Financial Review published the internal dispute.
“I am confident that this decision will provide the required funding for TransACT to continue its challenging journey and to implement these necessary reforms,” Mr Swan said.
“I believe the Government should support these challenging reforms, because they are vital to ensuring TransACT continues to grow and to ensure we have strong and sustainable industry and banks in the long term.”
TransACT, which had been awarded approval last year to raise more than $70 billion on the market, has not yet received the $1.9 billion.
However, it had said it was seeking an update on funding plans in April 2016 and that TransACT had already received $904 million from the Australian Federal Government.
The Government has not said how much money is available for TransACT’s fund.
Treasurer in ‘disease’ of secrecy
While Mr Swan has said he supported엠카지노 funding, he was still unsure how much it will come from and if the money would be enough to support the troubled company through 2016-17.
“I am sure you’ll find that as we come closer to the decision date the more and more I realize that I have got to have a bit more clarity on what we’ll actually be able to get through,” Mr Swan said.
“At a time when we’re facing the most serious budget and macroeconomic challenge we’ve had in 30 years there’s an appetite around the Commonwealth for us to spend that money.”
The Federal Opposition has raised concerns that the Government will not make up for the money it will lose in the future by funding a third of Tr강원출장마사지ansACT’s costs through its Pension Guarantee Fund.
Labor MP Tony Burke was quick to respond.
“This is about the TransACT pension fund and that fund is running a $7 billion deficit that the Government has spent for the last three years without coming anywhere close to paying for it,” Mr Burke said.
“If the Government were to look after the rest of it in one fell swoop, it would create massive, insurmountable financial problem