Scott Morrison (Cook, Liberal Party, Minister for Social Services) Share this | Hansard source

I thank the Prime Minister for the opportunity to respond to this question relating to the Rice Warner analysis, which I assume the member is referring to. Rice Warner is who the opposition is relying on for their policy advice in terms of making criticisms of the government If you look at the Rice Warner submission to the tax white paper, this is what they say in relation to social security and the age pension:

We believe the part Age Pension should be phased out.

Out! They want to abolish the part pension.

Retirees should first spend their own assets and be eligible for a full Age Pension when they fall below a threshold.

We suggest that retirees should be allowed some exempt assets.

That is kind!

It would be appropriate for a couple to keep the family home up to a value of $1.5m …

That is it. They want to include the family home in the pension assets test. They are the advisers that those opposite are relying on. It goes on and says that they would allow a maximum amount of assets of just $500,000.

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