Why Chalmers caved on his super tax for the rich

Why did the government cave to pressure over its superannuation tax changes for the richest Australians? The Treasurer Jim Chalmers has revealed two major changes in response to critics, introducing indexing on the $3 million threshold and dropping a plan to tax unrealised gains. He says the government’s new plan achieves the same objective in making the system more equitable, but how will it work? Today, political correspondent Melissa Clarke on what the backdown means for the future of tax reform under Labor. Featured: Melissa Clarke, ABC political correspondent