Jason Falinski (Mackellar, Liberal Party) Share this | Hansard source

I thank the member for Lilley for her erudite comments, as always. The problem with the compulsory superannuation guarantee that the Labor Party is so desperate to force upon the Australian people is that it will make them worse off. So why do the Labor Party want to make workers, ordinary Australians who are struggling to make ends meet, worse off?

Could it be the tens of millions of dollars that they receive in donations from industry super every single year?

It isn't just me saying this. This is the Governor of the Reserve Bank of Australia saying that Australians will be worse off. Labor is in favour of making Australians worse off so they can get more donations for their political party. It isn't just me saying this. It is, indeed, the Grattan Institute—an institute that I never thought I would ever call upon to bolster a public policy argument. They say that Australians will be worse off, and yet the Labor Party, as an honourable party in favour of workers, want to make them worse off. Would it have anything to do with the tens of millions of dollars that the Labor Party get in donations, laundered through the union movement, every single year? It's not 30 pieces of silver—you have to give them that! They're not cheap! They'll only ask for tens of millions of dollars.

Then we move on to maybe the one department in the entire federal Public Service that knows something about this. What does Treasury have to say about this? Treasury says that Australian workers will be worse off. But the Labor Party is an honourable party which believe in standing up for Australian workers. No they don't! They believe in standing up for the tens of millions of dollars that they receive in donations from industry super every single year, laundered through the union movement, and they're happy to make Australian workers worse off.

The shadow minister is scurrying from this Federation Chamber! He drops this motion like a stinking dead cat on the table and runs away the minute the facts come out. And it's not just me saying this. In fact, it's the industry superannuation association itself. Bernie Dean, as we know, is a financial expert. How do we know that? Because he pays for advertising to tell everyone that—that he's a financial expert—and because ASIC doesn't do anything when he advises young Australians that they would be better off keeping their money in accounts that are being chewed up in the fees of fund managers and his very members. But he sits on a piece of research that shows Australian workers will be worse off if the compulsory superannuation guarantee goes up. And what does he have to say? Well, the Labor Party is an honourable party that believes in supporting Australian workers.

But they don't. They believe in looking after their donors. They believe in putting their donors ahead of ordinary Australians. And why do they believe this? Because it's worth tens of millions of dollars to them every single year. This side of the House wants to stand up for Australian workers. It wants to see them have real wage increases and wants to see them have hope and opportunities for financial security in their retirements. Those on that side of the House want to make sure that their donors continue to get as much money as they possibly can and, indeed, they will force people—force Australians—to do so. Shame on them and shame on their leadership for allowing this to go on and for not looking after Australian workers!

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