Bruce Billson (Dunkley, Liberal Party, Shadow Minister for Small Business, Competition Policy and Consumer Affairs) Share this | Hansard source

So they have introduced this. We voted against it, saying there are better ways of dealing with this, but now that is in, in the name of certainty, predictability and stability we have undertaken not to rescind it, because that is the confidence people are looking for. A competent government provides certainty and it provides continuity, and we have done that even though it was an unnecessary move.

We have even got this government saying to small businesses: 'Self-managed super funds—you might have one of those. Well, we're not sure about that either. That sounds like a lurk we can't get our hands onto.' They have tried to structure the superannuation industry rather than enhance competition and improve the options available to people. They have structured it for those union dominated industry funds—what a dream run they have got. Those that are living off the industry super funds, those that Labor have loved for so long, are now saying, 'Please, don't keep messing with this superannuation arrangement.'

I have a very strong commitment that I would like to see from the government. If you are going to break another promise about superannuation, if you cannot maintain the assurance of not messing with it, please at least take it to the Australian public. This is too important for this short-termism, self-serving, self-interested government to mess with people's longer term planning requirements for their retirement. Those approaching retirement are relying on their superannuation. The right thing to do is to follow the coalition's lead—offer stability, be clear, no surprises. But if the Gillard government cannot manage that, it should at least face the Australian public so that they know what they are doing and can make their own judgement. (Time expired)

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