Tony Abbott (Warringah, Liberal Party, Prime Minister) Share this | Hansard source

We know that no moneybox was safe when the Leader of the Opposition was in charge of the nation's finances; he would have that moneybox in his pocket as quickly as he could, he would 'trouser' it as quickly as he could. We want to ensure that the pension system is fair and sustainable. It will be a fairer system when 170,000 people of very modest means get an extra $30 a fortnight under this government. It will be a fairer system when millionaires are no longer part-pensioners. It will be a fairer system when people with more than $1 million in assets and their own home are no longer part-pensioners.

What the shadow minister is defending is a system that will take money away from people with modest assets and give money to people who are already millionaires. How lost is the modern Labor Party! I never thought I would say that the Greens are showing more sense on this issue than the Labor Party. But I believe they are. I think even the Greens are more interested than members opposite in sensible pension reform. What this government wants to do is to say to people who have $1 million in assets and their home: 'You no longer need the part-pension. Yes, you'll still get the Commonwealth Seniors Health Card, but you no longer need a part-pension.' If, on the other hand, you have got modest assets—and there are 170,000 of them—we want you to get an extra $30 a fortnight. That is fair and that is sustainable.

When it comes to superannuation, we know that Labor promised to make no changes to superannuation. We know that they then ripped off $9 billion—

Ms Ryan interjecting—

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