Josh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Hansard source

That is in a letter from Cancer Council Queensland. It is very clear. At today's hearing there were many stories, including from Norm, who is in 80s, and his wife, Margaret, who he called across the table 'his sweetheart'. He told the forum that they have contributed all their lives to the community—paying their tax and saving for their retirement. Now they are totally reliant on savings which provide them with an annual combined income of $60,000. But under Labor, their income will drop to $47,000—a $13,000 hit. 'We will survive,' Norm said, 'but the thing that incenses me is what is happening and how it is happening.' There's only one side of this parliament, there's only one side of politics—the Liberal and National Parties in government under this Prime Minister—that is standing with retirees, that won't tax them into oblivion, that won't break a 20-year consensus on franking credits and that will ensure that they can continue with their quality of life. Only the coalition can be relied on to deliver lower taxes.

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