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

off pensioners with modest assets so that millionaires can get a part pension. That is the truth of what the Labor Party is now proposing. What the Labor Party is now proposing—and it is clear from this line of questioning—is that they want to take money away from people with modest assets, from pensioners with very modest assets so that people with their own homes and $1 million in assets will stay as part pensioners. They would rather look after people with $1 million in assets than look after people with very modest assets. That is the clear conclusion from this line of questioning.

The other thing that Labor simply does not understand is the difference between a social security benefit, which is money that the government pays to people out of tax, and superannuation. Superannuation is the people's money. It is not owned by government. Because there is a tax concession, they say, it belongs to the government. That is their position. Because there is a tax concession it really belongs to Bill, the trouser king. There he is. He wants to trouser your money.

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