Deborah O'Neill (Robertson, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister for Employment and Workplace Relations and Minister for Financial Services and Superannuation. Will the minister outline for the House the importance of the government's superannuation policies for ordinary working people? Is the minister aware of other policies on superannuation, and what would their impact be?

Bill Shorten (Maribyrnong, Australian Labor Party, Minister for Financial Services and Superannuation) Share this | Link to this | Hansard source

It is great to have in this chamber today former Prime Minister Hawke, because he knows, just like everyone on the Labor side, that the only time superannuation ever gets lifted in this country is when Labor is in government. He knows how hard it was for the unions and the government to go to an accord to lift super from zero to three per cent. We saw Prime Minister Keating lift super from three to nine per cent across the following years, and he has also seen, under Prime Minister Gillard, superannuation lifted from nine to 12 per cent. We are the champions of superannuation in this House. We invented compulsory universal superannuation so that people do not retire poor. It is in the Labor DNA, and those opposite know it. And, whenever we try and improve superannuation, there is one thing you can always count on, as surely as night follows day: those representatives of vested interest, those opposite, always vote against it. Shame on them.

What we have already done since 1 July last year, for 3.6 million Australians who earn less than $37,000 a year, is abolish the 15 per cent tax on superannuation that they paid. We abolished it—a tax cut for 3.6 million people who earn less than $37,000, the people who work part time, the working mums. So you can imagine my surprise at the National Press Club last week, when the opposition had a chance to rescue themselves from their fiscal stupidity of proposing to introduce a new tax on 3.6 million working Australians. Given the right choice or the wrong choice, that mob opposite never miss an opportunity to miss an opportunity in superannuation.

On Q&A on Monday night, I thought they might bring in super rescue agent Christopher Pyne, the member for Sturt, to rescue them. David Bradbury skewered him. David Bradbury said:

The policy that Tony Abbott confirmed at the National Press Club about the low income superannuation contribution.

Christopher Pyne, in an act of confusion so consistent with Christopher Pyne, said, 'We haven't announced that.'

Ms Anna Burke (Speaker) Share this | Link to this | Hansard source

The minister will refer to members correctly.

Bill Shorten (Maribyrnong, Australian Labor Party, Minister for Financial Services and Superannuation) Share this | Link to this | Hansard source

Well, the opposition has announced it. Why don't you take a leaf out of Christopher Pyne's book and drop a tax on 3.6 million people? Take some advice from Christopher for once.

Ms Anna Burke (Speaker) Share this | Link to this | Hansard source

The minister should refer to individuals by their correct titles.