Superannuation, Shark Tank and the Significant Investor Visa

Why does the world's richest country need wealthy foreigners to fund it's own entrepreneurs? That is one conclusion to come from last weeks news that SIV applicants may need to tip a couple of million dollars into start-up and emerging companies in order to obtain a visa. Forget the potential for rorting - surely the bigger question is: why this is even necessary? After all, according to the latest Credit Suisse Global Wealth report, Australia has the highest median net worth (USD $225k per head) on the planet. We have a property market 'worth' over $5.5 Trillion. We have close to $2 Trillion in Superannuation, and about the same in deposits with banks and ADIs according to APRA. We clearly have the money to fund our own entrepreneurial talent. Why is the government having to effectively bribe wealthy foreigners to fund/buy it ? Three major issues that have led to this 1). Banks are reluctant to lend to private business 2). Private debt levels are too high 3). Superannuation deprives small businesses of access to capital Full thoughts here (VIEW LINK)