Warren Snowdon (Lingiari, Australian Labor Party, Minister for Defence Science and Personnel) Share this | Hansard source

Further to the issue of superannuation, let me make it clear what the opposition has signed up to: $175 million over the forward estimates; a $1.7 billion fiscal cost over the forward estimates; and $6.2 billion in unfunded liabilities. Those opposite have not seen the connection, or are failing to recognise the connection, between this superannuation scheme and the scheme that other Commonwealth superannuation beneficiaries are on—that is, Commonwealth public servants. If there were to be a change to the indexation in the way in which the opposition subscribes to, as former Senator Minchin pointed out, there will inevitably be a flow-on to all Commonwealth public servants. The costs would be horrendous. It is something that I know the shadow minister for finance and the shadow Treasurer will have deep in their thoughts. This is a commitment that I do not think will be met.

Mr Robert interjecting—

Mate, you have indicated to us that the only observation you have to make about the $5.4 billion saved in Defence is that you have no comment.

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