Luke Hartsuyker (Cowper, National Party, Assistant Minister for Employment) Share this | Hansard source

Indeed! But it is an important area. Superannuation is a vitally important area.

Mr Giles interjecting—

I have not mentioned the carbon tax at this point in time but, as you mentioned the carbon tax, I would have to say that there is the potential for the carbon tax to detract significantly from the value of superannuation savings due to increased inflation. The carbon tax has been a real problem in driving up the cost of living. It would certainly have an impact on the value of your savings' nest egg when inflation is taken into account. I see the honourable Mr Ciobo has arrived in the chamber.

In conclusion, I reiterate my commitment to the importance of superannuation in the financial system. I commend the legislation to the House.

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