Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

The answer is no. The Australian government, my government, supports pensioners and provides them with the support that they deserve. We are not, as Labor is proposing to do, stealing their savings. Let's not forget that the Labor Party, the honourable member's party, wants to go after the savings of pensioners and self-funded retirees. They do. There used to be a bipartisan agreement that people on low incomes were entitled to get the cash benefit of those franking credits—and that was Labor's policy. Labor took it to an election, in fact. It was passed through this parliament by Peter Costello, with bipartisan support. Now the Labor Party wants to go after it. Who is going to pay? The people that will pay will be self-funded retirees. They think they will be getting $5 billion a year—

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