Pat Conroy (Charlton, Australian Labor Party) Share this | Hansard source

Those opposite argue that tax breaks on superannuation are untouchable. But the fact is: they have already touched super. That is the inconvenient truth that those on the other side forget. They cut the low-income superannuation contribution which was benefiting people who earn up to $37,000 a year. They scrapped the increase to the superannuation guarantee which would have seen every working person benefit in their retirement. We on this side believe that working people should be supported to save for their retirement but it should not be to the detriment of all taxpayers and it should not be structured in a way that benefits the wealthy. We say that is good and effective policy. More importantly, it is fair. Those on the other side support inequitable concessions to millionaire superannuation holders while slugging those on low incomes who need the low-income superannuation contribution.

It is two weeks on from budget night, and the good news is fading fast for the government. We are now seeing past the headlines and looking at the detail. There is no good news in that detail, because this is an inequitable budget. (Time expired)

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