Australia’s business leaders and financiers are backing a push for superannuation funds to increase their lending to the corporate sector, boosting economic growth and creating reliable sources of income for retirees.
The move has the support of the banking chiefs who say lending to corporations for more than seven years is too costly with former prime minister Paul Keating warning that local companies risk “being underbanked” if the $2.4 trillion pool of savings doesn’t fill the void.
“We need another chock in our financial system for the mid-sized companies,” Mr Keating told a Superfunds Round Table hosted by Visy and The Australian Financial Review
The round-table gathering of bankers,business leaders, investment institutions and p…
Read the full article at: http://www.afr.com/personal-finance/superannuation-and-smsfs/super-funds-need-to-unlock-billions-for-corporate-sector-20171122-gzr5wo
