Daniel Shrimsky

And it's one of the reasons why

measures and love to talk to you about our My Investments idea, but that's why we think if there are going to be changes to the CGT, complementing that with actions that help Australians or younger Australians invest, you know, it could be really meaningful and we think they have merit.

So look forward to talking to you in a moment.

Yeah, and look, just to your points earlier, we will, Vanguard, as I said, 30 years here, we will continue to be vocal where it's something that we're passionate about and where we feel like investors deserve a better shake.

And we've done that, James, things like fee transparency and just the overall level of fees.

We have advocated hard.

maintaining the integrity of the performance tests with super.

And this is just another idea where, you know, we're passionate about it.

We think we've got one of the world's best retirement systems here in superannuation, but there is a gap outside of super and particularly for younger Australians where it's hard to build wealth outside of super.

And if there are younger Australians that do have cash, a lot of it sits on the sidelines, you know, 23% of financial assets in Australia are

sits in cash.

And if you think about the Australian market delivering over 9% over the past 10 years, the US over 15%, those Australians missed out by having cash on the sidelines.

So we're proposing to create a tax-incentivized investment scheme that will enable more Australians to invest in a regulated way, and it'll help them achieve

sort of medium term goals, maybe saving for a deposit on a house, renovation, education.

And it's a scheme that's tested in other markets.

We've seen it hugely successful with the ISA in the UK and NISA in Japan, Canada, Sweden, many different jurisdictions have had it because it's, and it's worked because it's neutral, it's accessible and it's simple.

Yeah, so essentially it would be a dedicated investment account outside of super.

We think there needs to be some eligibility criteria.

Potentially it's for under 45-year-olds.

And essentially they'd be able to contribute up to a cap every year.