Angus Taylor (Hume, Liberal Party) Share this | Hansard source

I have to say that I am puzzled by this MPI, because it talks about the government's attacks on superannuation, and yet I know nothing of such attacks. I can only assume one of two things: either this was a typo—and, given the sloppiness of your tax work, I suppose that is a real possibility—or, alternatively, you over there on the other side of this House had forgotten that you were no longer in government, and it is your own attacks we are talking about. Perhaps the topic of this MPI was actually a Freudian slip.

There is one other possibility—that, when you talk about attacks on super, you are referring to attacks on your own union official mates who have found cushy jobs in the superannuation industry. It is true that we are proposing some modest reforms to improve the performance of, and choice we have over, superannuation funds. They are modest reforms, to the average Australian, but I am sure they are not modest reforms to your union official mates, because we are proposing that one-third of directors on superannuation funds should be independent. This does mean, I have to admit, fewer union officials on the boards, and I am sure that is extremely upsetting for you, but those of us who have been involved in the business sector for a long time know that there is a long and esteemed history of independent directors playing a very positive role in investment funds and in all areas of business.

We have also suggested that people should have more choice of funds. Choice—your socialist utopia does not really like that, but two million people at the moment cannot choose because it is mandated by enterprise agreements or workplace determinations. That is two million people who do not have choice because you do not want them to have choice. We plan to give them that choice. We are more concerned for their welfare than the welfare of your union official mates.

See this speech in context