Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Hansard source

I thank the member for Petrie for his question, and I thank him—like all other members on this side of the House—for being engaged in a very adult and constructive consultation process over the last few months. They have been listening to their constituents and we have been listening to what their constituents have been saying to them.

Those opposite seem to think this is some sort of problem with the democratic process. This is the job of members of parliament, this is the job of ministers: to ensure we deliver on our commitments in the best possible way. And what we put in the budget was a plan for fairer, more sustainable and more flexible superannuation arrangements with tax concessions so they delivered on their purpose—that purpose being to support retirement incomes that supplement or replace a pension.

Now, that is the purpose. And we put into the budget fit-for-purpose changes to superannuation tax concessions that not only would achieve that but would deliver on the urgent job of budget repair, to the tune of $3 billion. What we have announced today, as the Prime Minister said, is that there were 12 measures in the budget: there is change to one of those measures, the removal of another and the delaying of one. But all of the measures now, as I announced them today, continue to deliver absolutely on what we set out as the objectives in the budget—including on the important issue of budget repair.

I am pleased to say that ASFA today, in commenting on the announcement we made this morning, said quite simply that it makes the superannuation system more sustainable—that it will ensure:

… people approaching retirement will have more flexibility to add to their super.

They said it will provide income in retirement and that it:

… balances the need to ensure enough income for a comfortable retirement with ensuring the level of tax concessions is sustainable in the future.

The head of ASFA said:

This is the responsible thing to do …

But here is a message for those opposite: he said:

The Association of Superannuation Funds of Australia (ASFA) supports the government’s revised superannuation package announced this morning and urges the Parliament to pass the changes as soon as practical, …

I ask the members opposite, as I offered the shadow Treasurer today—the officials were in the building today, and I am sure they will have their briefing on the rather minor changes, ultimately, that were made today to a package of 12 measures—not to be the authors of uncertainty in relation to this issue, as they were in government: not the authors of uncertainty, but to provide that certainty.

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