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

No, I cannot confirm that. The Labor Party seem to think that increases in compulsory super come out of thin air. Do you know what? Increases in compulsory super do not come out of thin air—they come out of people's pockets. They come out of people's wages. That is what Mr Shorten used to say when he was the Minister for Financial Services and Superannuation. The decision that the Senate made yesterday leaves people with more of their own money now so that they can spend it or save it as they see fit. That is what we decided to do yesterday, and of course that was part of an overall deal in the national interest which saw the abolition of the mining tax, which saw the abolition in time of a whole range of unfunded promises, which will help us bring a stronger economy and create more jobs, which will help us prepare the budget and which will leave workers across Australia better off. Mr Shorten was not prepared to say today that he would roll back these changes.