Bill Shorten (Maribyrnong, Australian Labor Party, Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Prime Minister. I refer reports of the Assistant Treasurer's statements today on changes to superannuation, and I quote:

The government will, of course, consider good ideas put forward as part of the tax white paper process and any changes recommended by that process will be taken to the Australian people at the next election.

Given that the Prime Minister has been rebuffed by the secretary of the Treasury, the Treasurer, and now the Assistant Treasurer, will the Prime Minister repeat his promise of 'never, ever changes to superannuation'?

Tony Abbott (Warringah, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

I am delighted to have a question on superannuation from the opposition because, yet again, it allows me to make this very clear distinction. On this side of the House the Liberal-National Party believes that your superannuation is your money. On the other side of the House the Labor Party believe that your superannuation is government money to be raided whenever government has a problem. Labor think that your money is their piggy bank. That is what they think, and that is why a very clear message is going from this parliament to the Australian people: your savings are not safe with Labor. It is the clear message because earlier today the shadow Treasurer made a speech to the Committee for Sustainable Retirement Incomes, and let me read the relevant phrase from that speech. It said:

It is indefensible to suggest we can leave superannuation tax concessions for another day.

Let me repeat that.

It is indefensible to suggest we can leave superannuation tax concessions for another day.

It is a very clear message. They are coming after your super. They are coming after every dollar of savings that any Australian has put in a superannuation account. They are coming after the superannuation of the people of Australia.

The shadow Treasurer is indignant it seems that the value of superannuation concessions is increasing. You know why concessions are given? To create incentives to do something. The value of those concessions is increasing because they are doing their job and superannuation balances are increasing. These geniuses on the other side put a policy in place because they wanted to do something, and then when it did exactly that they said, 'quelle horreur'. It is very, very clear: the superannuation savings of Australians are safe under the Liberal and National parties. Your savings are regarded by the Leader of the Opposition as his piggy bank. This Leader of the Opposition is going from bad to worse.