House debates Questions without Notice
Superannuation
Dave Tollner Solomon, Country Liberal Party
3:06 pm
My question is addressed to the Minister for Revenue and Assistant Treasurer. Would the Minister outline to the House how the government is helping Australians save for their retirement. Are there any threats to people putting money away for their retirement?
Peter Dutton Dickson, Liberal Party, Minister for Revenue and Assistant Treasurer
I thank the member for Solomon for his question. There is no better example of the contrast between candidates on this side of the House and those opposite than the member for Solomon. He is a person who, before entering this parliament, worked in the superannuation industry for over a decade. He helped prepare Australians for their retirement. He helped devise strategies to help them put money away for their retirement.
Warren Snowdon Lingiari, Australian Labor Party, Shadow Parliamentary Secretary for Northern Australia and Indigenous Affairs
Mr Snowdon interjecting
Peter Dutton Dickson, Liberal Party, Minister for Revenue and Assistant Treasurer
Compare the member for Solomon with all the union hacks opposite. There is nobody with small business experience, nobody with a capacity to put money aside.
Annette Ellis Canberra, Australian Labor Party
Ms Annette Ellis interjecting
Peter Dutton Dickson, Liberal Party, Minister for Revenue and Assistant Treasurer
There is nobody with a capacity to employ Australians—
Bernie Ripoll Oxley, Australian Labor Party, Shadow Parliamentary Secretary for Industry and Innovation
Mr Ripoll interjecting
Peter Dutton Dickson, Liberal Party, Minister for Revenue and Assistant Treasurer
or to put their house at risk. They have nothing but a union movement background. We know that in this country at the moment superannuation funds are returning good double-digit returns to their investors. People who look at their superannuation statements are now seeing the benefits of a good economy. When we as a government talk about having managed the economy well over the past 11 years—
Brendan O'Connor Gorton, Australian Labor Party, Shadow Parliamentary Secretary for Industrial Relations
Mr Brendan O’Connor interjecting
Peter Dutton Dickson, Liberal Party, Minister for Revenue and Assistant Treasurer
we know that one of the benefits that flows from good management of the economy is people’s return on their superannuation. People want to amass wealth in their superannuation so that they can support themselves in retirement. One thing will put that at threat, and that is the mismanagement of the Australian economy. Let me make this prediction today: if the Labor Party and the union movement are back in charge of the Australian economy the returns to superannuation funds will again diminish. They diminished when Labor were last in power. If the unions are raping and pillaging business in this country, the companies cannot provide proper returns to their investors.
Brendan O'Connor Gorton, Australian Labor Party, Shadow Parliamentary Secretary for Industrial Relations
Mr Brendan O’Connor interjecting
David Hawker Speaker
The minister will resume his seat. The member for Gorton continues to interject. He will excuse himself under standing order 94(a).
The member for Gorton then left the chamber.
Peter Dutton Dickson, Liberal Party, Minister for Revenue and Assistant Treasurer
That is goodbye to the CFMEU rep here today, but there are plenty of other union representatives in the parliament to fill his place, aren’t there? The point I make is that, if the economy is run poorly, if the economy is run into the ground again by Labor, it will not just mean for families that they have hundreds of dollars more to pay for their mortgage each month. It will not just mean they pay more by way of taxes as the economy needs to be propped up by extra revenues, which is what happened when Labor were last in power. What a Labor and union government mean in this country is a diminishing return on people’s investment in superannuation. The Labor Party is a great threat to people’s superannuation in this country.