Joe Hockey (North Sydney, Liberal Party, Shadow Treasurer) Share this | Hansard source

No, you do not want competition from the private sector. For crying out loud! Industry funds? Bernie Fraser knows how to manage people’s money. He made a living out of it during those glorious days when he was at the Reserve Bank and upped interest rates to record levels. No, put him in charge of the nation’s superannuation—that would do the job. Then, in a further break of the Labor Party’s commitment to touch superannuation ‘not one jot, not one tittle’, as Kevin Rudd said, the Labor Party promised to tender the role of the superannuation clearinghouse to the private sector. But, instead, they went to Medicare. I thought Medicare had responsibility for refunding payments out of the MBS to individuals. But, no, the Labor Party, in its infinite monopolistic public sector wisdom, said, ‘Let’s get Medicare to become the clearinghouse for superannuation.’

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