Former Liberal Party federal director and Business Council executive Andrew Bragg
Big business has lost the superannuation war. The exit of most of the big banks from wealth management and financial planning, the banking royal commission and the Productivity Commission's finding that industry super funds outperform retail super funds have capped off a steady decline in retail super's fortunes since the Abbott government failed to repeal Labor's Future of Financial Advice reforms.
But having lost, it appears big business wants to wreck superannuation entirely. Andrew Bragg, a Business Council of Australia executive director is -- like so many BCA staff -- a Liberal Party apparatchik, as well as a former executive of the retail super fund lobby group Financial Services Council. Bragg has been running a campaign against industry super in conjunction with Kelly O'Dwyer, Michaelia Cash and News Corp writers like Simon Benson and Miranda Devine. Since it's no longer credible to claim that funds run by the big banks are competitive with industry super, Bragg claims that industry funds -- which are jointly run by employer associations like Australian Industry Group, and trade unions -- are in league with the Labor Party and feeding cash to unions.