The Federal Government has announced a much anticipated change to the superannuation system.
It wants to cap tax concessions on super balances of more than $3 million, a move it says will affect only half-a-percent of the population or around 80,000 people.
The proposed reform could boost the budget coffers by up to $2 billion a year.
But will there be serious political implications for the Labor government, which was elected on a promise it wouldn't change super laws?
Here's the breaking news on The World Today
Earlier - 30 minutes before the big announcement - I was predicting there would be a "softening up" of Australians ahead of any changes.
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