Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Hansard source

He is very angry. He can save the yelling for the New South Wales Liberals' campaign launch on Sunday. Save it for that. This is what the shadow Treasurer had to say: 'The situation we had was some people were contributing millions of dollars into super and it is totally inappropriate that someone who has contributed millions and millions of dollars continues to get those 15 per cent concessions.' That is what they had to say—well done, Angus! It was after the Treasurer's budget speech that year that the then Treasurer, the member for Cook, had this to say: 'We will be reducing access to generous superannuation tax concessions for the most wealthy.' Today they have come in here today, and we have let question time go for over an hour and a half. They have finally asked a question about super, and what they talk about is something that happens in 30 years, even though, when they made the changes in section 293 and section 293, they didn't index it. They didn't index income tax rates. I make this bold prediction: in 30 years' time, some people will be earning more than they are today in dollar terms, some people will be paying different income tax rates in 30 years than they are now and different people will be contributing under section 293 in superannuation—the changes that those opposite delivered in 2016-17. But the difference is this: our tax changes affect one-half of one per cent.

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