Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

Firstly, the short answer is no. I note that the Labor Party has never been good at maths. I thought that Senator Bullock from the great state of Western Australia, knowing his reputation in the Western Australian Labor Party, was better at maths than that. What the Senate has agreed to today is to delay further increases in compulsory super by six years, not seven. I know that the Labor Party is not strong when it comes to adding up the numbers.

A point I would also make is that it is not an adverse change. This is a change that leaves working families with more money in their pockets pre retirement. None other than the opposition leader, Bill Shorten, said that the money for increases in compulsory super comes out of people's wages. It comes out of people's wages, and people will be free to make their own judgement as to whether they want to put that money into superannuation or use it to pay off their mortgage.