Darren Cheeseman (Corangamite, Australian Labor Party) Share this | Hansard source

Thank you. I know from my electorate when I get out and streetstall, doorknock and talk to my constituency that Australians very much support having their own superannuation that is in place to provide a quality of life when they get to retirement. I also know that the government, which of course I am a member of, has very substantial plans with respect to superannuation, particularly lifting super savings from nine to 12 per cent. When I get out and talk to my constituency, they inform me that they like the approach that the government has adopted, particularly because most Australians like to have really strong superannuation laws in place, laws that they can feel comfortable about and confident in that if they invest in superannuation that the government will support them through very strong legislation.

I also note the government has put in place the MySuper arrangements to ensure that superannuation costs are kept to an absolute minimum, because Australians want to see the money that they invest in superannuation actually going to their retirements, not going towards excessive fees and charges to superannuation schemes, funds in the private sector and the like.

My question is: what are the alternative approaches that may have been raised or suggested in the course of the budget debate, whether it be our budgets or by the Leader of the Opposition's budget reply. Australians want to have very strong superannuation arrangements, and I ask the minister if he could shed further light on some of the plans and processes coming out of the budget around having really strong superannuation so that Australian workers can have dignity when they get to retirement. I think that is a reasonable question and I am deeply disappointed by the tone that the coalition has taken to this debate— (Time expired)

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