Mathias Cormann (WA, Liberal Party, Shadow Assistant Treasurer) Share this | Hansard source

My question is to the Minister representing the Treasurer, Senator Wong. I refer the minister to the latest data on Australia's financial accounts by the Australian Bureau of Statistics which shows that the total real value of financial assets held by Australian households remains lower than the peak reached in late 2007, just before the election of this Labor government. Given that the growth rate of the real value of household financial assets remains so sluggish, can the minister explain why this Labor government has increased taxes on the retirement savings of Australians by $7.8 billion in its first four budgets?