Nick Minchin (SA, Liberal Party, Minister for Finance and Administration) Share this | Hansard source

Yes, we did oppose it. I have said that, Senator Sherry, just like you oppose a lot of the good things that we do; you oppose all the good things that we do. We have given the Labor Party credit where it is due. Now, in the spirit of generosity, we are giving some credit where it is due. The nine per cent levy has been a net plus for Australia. It reflects the fact that Australians are reluctant to voluntarily provide for their own superannuation without massive incentives or, indeed, by employer provision. But we do not regard it as a tax or within the framework of the very significant and important review of international taxation which the Treasurer has announced. That is not part of the terms of reference of that review. The review is to benchmark Australian taxation structures and levels against our international competitors to see how we compare, to see where we do better than others, and indeed to see where there may be room for improvement in the structure, operation and levels of Australian taxation. But I can assure Senator George Campbell that the nine per cent guarantee is not part of this review.