Washington: US President Donald Trump has praised Australia’s superannuation system and says he is considering adopting a version of it, implying it could be used to help lift the dwindling American birthrate.
Trump made the remarks at an event unveiling an unprecedented $US6.25 billion ($9.5 billion) donation from Michael and Susan Dell, of the Dell technology company, toward the bank accounts of millions of eligible American children.
Michael Dell with his wife Susan and US President Donald Trump at the White House ceremony.Credit: AP
The Dell gift would deposit $US250 to children under the age of 11 whose households earn less than $150,000 a year and who do not receive $1000 in seed funding under Trump’s so-called “Trump Accounts” program.
Part of the rationale for these programs was to offer a sort of “baby bonus” to try to arrest the declining US fertility rate – a prominent concern among the MAGA movement.
When Trump was asked what else the administration was doing to try to lift the birthrate, he appeared to suggest the Australian superannuation system.
“We are looking at programs. There’s a certain Australian plan that people are liking and they’re talking about … not for children, necessarily, but it’s for people, working people,” he said, and turned to look at Michael Dell for confirmation.
Trump said Australia’s superannuation system was a “good plan”.Credit: AP
Another reporter asked Trump to clarify that he meant the Australian retirement savings program, known as superannuation.
“That’s what they’re talking about, yep,” Trump said. “We’re looking at it very seriously. It has worked out very well, it’s a good plan.”