Tuesday, 4 December 2018
Questions without Notice
Women's Financial Security
My question is to the Minister for Jobs and Industrial Relations and Minister for Women. Will the minister outline to the House how the government's actions to build a stronger economy support women to save for their future and their retirement without raising taxes? What would the consequences for women's financial security be were an alternative course of action followed?
Ms Burney interjecting—
I thank the member for her question. She is an incredibly hardworking member for her electorate of Forrest and a powerful advocate here in the nation's parliament. And she is a particularly powerful advocate for the girls and women of her electorate because she wants to see rural and regional women have the same opportunities as their city cousins. She wants to make sure that they achieve their full potential, and that is what every single member on this side wants as well because we know that, when women do well, their families do well, and our nation and our country prosper. We know on this side that with a strong economy, when we are able to deliver budget surpluses, we are able to help women build their financial security. We are able to better secure their economic future. Unlike those one-trick ponies opposite, whose answer is always tax, tax, tax and more tax on every man, woman, business and investment in this country, we help women save for their future through having a strong economy.
That is why it has taken our government to deliver the first-ever Women's Economic Security Statement, a statement that is built around—
Opposition members interjecting—
I know it's very inconvenient for those opposite, because they were all words, but very short on actions. Our Women's Economic Security Statement has been built around three pillars: increasing women's workforce participation; building better financial security, resilience and independence; and ensuring that women have better earning potential. We are doing it through practical measures like boosting female founders. This is almost $14 million directed at women who are entrepreneurs, building businesses and creating opportunities for themselves and their fellow Australians. We know that it is very hard for women to access finance, so we are putting in place a practical measure that will help them build their businesses. We know that those opposite have no plan other than to raise taxes. Their plan is all about more taxes on business, on housing, on investment and on superannuation. Let us not forget their mega retiree tax, a tax that would particularly hurt women: 30 per cent more women would be impacted by this tax, women who are vulnerable, at a time in their lives where they cannot afford it. At a time in their lives where they would be more financially vulnerable, those opposite would slug them. Our government would actually support women; those opposite would not.