What Were the Major Incentives Provided by the Government to Increase

question 27

Essay

What were the major incentives provided by the government to increase savings contributions to superannuation funds? Why is the superannuation Industry an important and vibrant part of the Australian financial sector?

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Definitions:

Government Purchases

Spending on products and services by all levels of government, not including transfer payments.

Unemployment Insurance

A government program that provides financial assistance to workers who have lost their jobs through no fault of their own.

Discretionary Fiscal Policy

Government policy that entails the use of government spending and tax policies to influence the economy, based on specific goals or conditions.

Keynes

Refers to John Maynard Keynes, a British economist whose theories on government spending and monetary policy influenced modern macroeconomics.