Bill Shorten (Maribyrnong, Australian Labor Party, Assistant Treasurer) Share this | Hansard source

I am pleased to report that the Gillard Labor government has an optimistic vision and a realistic plan to increase retirement savings through real reform. Of course, the House understands what real reform is: the minerals resource rent tax. That tax will allow the real reform of lowering the corporate tax rate. Under a Labor government we will put a two in front of the corporate tax rate in Australia—something unimaginable under the coalition. This tax will not only ensure a better deal for small and big business but also, most importantly, ensure adequate retirement for millions of Australians.

This country needs to move the superannuation guarantee from nine to 12 per cent. We are a great country and one of the gifts of the 20th century bestowed by the generations who came before us is the gift of longer life, which will mean four and a half thousand centenarians by next year.

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