House debates Questions without Notice
Superannuation
Bill Shorten Maribyrnong, Australian Labor Party, Leader of the Opposition
2:12 pm
My question is to the Prime Minister. Can the Prime Minister confirm that, for an average income earner, aged 25, his decision to freeze the superannuation guarantee will cost that person around $100,000 by the time they retire?
Unidentified interjection - Hansard doesn't record who said this
Honourable Members:
Mrs Bronwyn Bishop Speaker
I call the Prime Minister and there will be silence on my right and on my left. The question has been asked; we will have silence for the answer.
Tony Abbott Warringah, Liberal Party, Prime Minister
2:13 pm
I can confirm, in response to the Leader of the Opposition, that money that would otherwise be squirrelled away in superannuation funds will instead be in the pockets of the workers of Australia because—
Unidentified interjection - Hansard doesn't record who said this
Honourable Members:
Mrs Bronwyn Bishop Speaker
The Prime Minister has the call and the cacophony will stop.
Tony Abbott Warringah, Liberal Party, Prime Minister
let us never forget what the Leader of the Opposition himself said, in one of his rare moments of lucidity, 'This money comes out of workers' pockets.'
Opposition members interjecting—
Mr Perrett interjecting—
Mrs Bronwyn Bishop Speaker
There will be silence on my left. The Treasurer will desist. And, if the member for Moreton has one more utterance, he will leave immediately.
Tony Abbott Warringah, Liberal Party, Prime Minister
I want to see for the next 10 years this money stay in the pockets of the workers of Australia. If the workers of Australia wish to invest that money in superannuation they are perfectly free to do so but, as far as I am concerned, for the next 10 years that money should stay in the pockets of the workers of Australia.