Jess Walsh (Victoria, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister representing the Prime Minister, Senator Cormann. The government is undertaking a retirement incomes review. Will the Prime Minister rule out any cuts to the pension?

Mathias Cormann (WA, Liberal Party, Vice-President of the Executive Council) Share this | Link to this | Hansard source

The answer is: yes. But, of course, the question is: will the Labor Party rule out their $30 billion in higher taxes on Australian's retirement savings?

Opposition Senators:

Opposition senators interjecting—

Mathias Cormann (WA, Liberal Party, Vice-President of the Executive Council) Share this | Link to this | Hansard source

I've already answered the question. But, of course, this is a contest—this is a battle of ideas. We stand for lower taxes. We stand, of course, for sustainable funding of all of the essential services Australians rely on, which also includes our appropriately well-targeted but generous welfare safety net. We are putting that on a sustainable fiscal foundation and trajectory for the future through our plan to build a stronger economy.

But what is the Labor Party doing? The Labor Party went to the last election promising $387 billion in higher taxes. There was the retiree tax, the $30 billion in higher taxes on super and the higher taxes on housing, investment and income—you name it!

Under this government, the Australian people can be confident that the pension is safe. Under the Labor Party, it wouldn't be, because under the Labor Party the economy would be weaker, the budget would be weaker and, of course, funding for the essential services would be on a weaker trajectory for the future, which is why, no doubt, the Australian people chose to re-elect us to form government at the last election.

Scott Ryan (President) Share this | Link to this | Hansard source

Senator Walsh, a supplementary question.

Jess Walsh (Victoria, Australian Labor Party) Share this | Link to this | Hansard source

Will the Prime Minister rule out increasing the pension age beyond 67?

Mathias Cormann (WA, Liberal Party, Vice-President of the Executive Council) Share this | Link to this | Hansard source

We have absolutely no intention of changing the pension age, and I'm quite happy to rule it out.

But do you know who increased the pension age to 67, Mr President? I'm just trying to remember! Who was that? Who was that? That was the godfather of class warriors, the former member for Lilley. What was his name again? I'm just trying to remember! I think it was Wayne Swan.

Murray Watt (Queensland, Australian Labor Party, Shadow Minister for Northern Australia) Share this | Link to this | Hansard source

Stop misleading the house!

Mathias Cormann (WA, Liberal Party, Vice-President of the Executive Council) Share this | Link to this | Hansard source

Wayne Swan was such an amazing Treasurer and such an amazing Labor member for the great state of Queensland that Labor's primary vote in Senator Watt's home state of Queensland is down to 22.6 per cent—22.6 per cent! That is because the Australian people understand that under Labor and their higher taxes, class warfare and antibusiness agenda the country would be weaker and they would have fewer opportunities to get ahead. We will continue to build a stronger economy and better opportunities for people to get ahead.

Scott Ryan (President) Share this | Link to this | Hansard source

Senator Walsh, a final supplementary question.

Jess Walsh (Victoria, Australian Labor Party) Share this | Link to this | Hansard source

In an article entitled, 'Super Shake-up: Liberal MP Craig Kelly wants family home included in pension asset test', The New Daily has reported that Mr Kelly has spoken out in defiance of the Prime Minister's call to toe the party line. Will the Prime Minister exclude any consideration of the change Mr Kelly proposed to the pension assets test—

Jane Hume (Victoria, Liberal Party, Assistant Minister for Superannuation, Financial Services and Financial Technology) Share this | Link to this | Hansard source

As long as The New Daily says it, it must be true!

Scott Ryan (President) Share this | Link to this | Hansard source

Senator Wong on a point of order.

Penny Wong (SA, Australian Labor Party, Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

This is her first question. I would ask that the usual courtesies, in addition to the standing orders, be observed. I would request that the senator be allowed to recommence her second supplementary.

Honourable senators interjecting—

Scott Ryan (President) Share this | Link to this | Hansard source

Can I just rule on the point of order? I ask all senators—there have been a number of incidents about questions and first speeches—just to remember the usual courtesies when a senator is on their feet for the first time in this chamber for either their first question or a first speech. I think that courtesy is important, without pointing fingers in any direction.

Mathias Cormann (WA, Liberal Party, Vice-President of the Executive Council) Share this | Link to this | Hansard source

It is the honourable senator's first question—

Scott Ryan (President) Share this | Link to this | Hansard source

Sorry, Senator Walsh hadn't finished. I'll let Senator Walsh recommence if she hasn't finished, because I've lost track.

Senator Wong interjecting—

Order! There is an element of glasshouses and stone throwing about interjections around this chamber, and it has happened on a number of occasions this week. Senator Walsh, please recommence.

Jess Walsh (Victoria, Australian Labor Party) Share this | Link to this | Hansard source

Thank you, Mr President, I will start the question again. In an article entitled, 'Super Shake-up: Liberal MP Craig Kelly wants family home included in pension asset test', The New Daily has reported that Mr Kelly has spoken out in defiance of the Prime Minister's call to toe the party line. Will the Prime Minister exclude any consideration of the change Mr Kelly proposed to the pension assets test from his government's retirement incomes review?

Mathias Cormann (WA, Liberal Party, Vice-President of the Executive Council) Share this | Link to this | Hansard source

The honourable senator is asking her first question. If it were not her first question, she would have heard me say before, 'Don't believe everything you read in the newspaper.' And, even more importantly, 'Don't believe everything you read in The New Daily'! That's what I would say.

Let me just say that Mr Kelly has hotly contested the report. He disputes the report. But, for the avoidance of any doubt, let me also refer you to one of those great tweets from our Treasurer, Josh Frydenberg, where he has made very clear that Labor's claim that the pension assets test will be changed to include the value of the family home is a lie. It's not our policy and never will be—

Scott Ryan (President) Share this | Link to this | Hansard source

Order! Senator Cormann, please resume your seat. Senator Wong on a point of order.

Penny Wong (SA, Australian Labor Party, Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

The point of order is: the actual question is whether the Prime Minister will explicitly exclude consideration of this policy from the review they have announced.

Scott Ryan (President) Share this | Link to this | Hansard source

With respect, Senator Wong, I think that Senator Cormann quoting the Treasurer, who has portfolio responsibility about that matter, is being directly relevant to the question.

Mathias Cormann (WA, Liberal Party, Vice-President of the Executive Council) Share this | Link to this | Hansard source

Let me be very clear: the question is based on a completely false premise, which has been rejected, and I've been very explicit: there will be absolutely no change to include the value of the family home in the pension asset test. It's not our policy and never will be. The Treasurer has made that extremely clear on behalf of the government—and you knew it.