Ed Husic (Chifley, Australian Labor Party, Shadow Parliamentary Secretary to the Shadow Treasurer) Share this | Hansard source

Yes, 250—I can imagine how big it will be then. This is fiction. This is a political document designed to advance propaganda rather than a serious attempt to look at what should be done. If it were a serious attempt to look at what we should do as people are aging, you would make sure that they have a sustainable retirement income. There's an idea. Look at everything they have done in the first half of their term. It has been: cut pensions; cut the superannuation guarantee contribution; cut the size of future national savings; get rid of the low-income superannuation contribution; and make sure that the wealthy are looked after as superannuants—those who are on $2 million of superannuation savings. And what was the other contribution? The other contributions in terms of improving retirement savings was given by the Treasurer, who floated the idea that we should drain superannuation to pay for housing, which was another bizarre proposal by a government that is basically at its heart full of contradiction. Its messages conflict with each other. There is no certainty about what they propose to do. The only thing you can bank on with this government is that they will cut, they will make life harder for people, they will break promises and they will continue to do that in this upcoming budget, which will just be a budget of cuts and chaos.

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