House debates

Wednesday, 2 June 2021


Treasury Laws Amendment (Your Future, Your Super) Bill 2021; Second Reading

5:07 pm

Photo of Tim WilsonTim Wilson (Goldstein, Liberal Party) Share this | Hansard source

How can you stand by this system that massively disempowers Australians, launders money into different funds, where it becomes unaccountable, and then they refuse to answer questions put by the parliament of the people of Australia. That is what happens. They keep things secret from the people of Australia, while coming into this chamber and demanding that we are compelling the people of Australia to give them more money. It is so corrupt. It is so founded on fleecing people and their wages, as the Secretary of the Treasury said in estimates only yesterday. Every increase in superannuation contributions comes at the expense of the wages of Australians today, but if you dare point that out, you get hounded down by members of the opposition, by the industry funds who use your hundreds of millions of dollars—nearly half a billion dollars over the past five years in advertising and marketing campaigns to make the claim that they're saints, when they're not. This is a symbol of your money being taken from you and controlled by others.

This bill doesn't fix all of those problems. But this bill at least requires these funds to make sure, when they take your money, Australians' money, that it has to be used in your interests, a novel concept, I know. The more we see of that, the more we'll get accountability and less fleecing of the people of Australia. (Time expired)


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