Even by 2060 Treasury estimates, the cost of superannuation will still be just under eight percent of gross GDP.
Mr Peters has taken the exact verbatim from the Treasury’s site where officials say the cost of superannuation could rise to 7.9 percent of GDP in 2060. It is indeed a “gross” number as well, meaning it does not take into account what the recipients pay back in tax. However, Mr Peters neglects to mention the very next sentence in Treasury's statement: "We might be able to afford that, but we would have to either cut other government spending or increase taxes."
Fact or Fiction: A superannuation special
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