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Victorian treasurer outlines super plan, flags $4b in government cuts

The Victorian treasurer wants to cut $4 billion in state government spending to help save his balance sheet and surplus.

Tim Pallas also told Neil Mitchell employers should foot the bill as the state government pushes to lift the superannuation rate to 15 per cent.

The federal government is holding a major review of Australia’s retirement savings system. Compulsory employer contributions will reach 12 per cent by 2025.

Mr Pallas says the system needs refreshing to stamp out discrimination.

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