Bill Shorten (Maribyrnong, Australian Labor Party, Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Prime Minister. Can the Prime Minister confirm that, for an average income earner, aged 25, his decision to freeze the superannuation guarantee will cost that person around $100,000 by the time they retire?

Honourable Members:

Honourable members interjecting—

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

I call the Prime Minister and there will be silence on my right and on my left. The question has been asked; we will have silence for the answer.

Tony Abbott (Warringah, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

I can confirm, in response to the Leader of the Opposition, that money that would otherwise be squirrelled away in superannuation funds will instead be in the pockets of the workers of Australia because—

Honourable Members:

Honourable members interjecting—

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

The Prime Minister has the call and the cacophony will stop.

Tony Abbott (Warringah, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

let us never forget what the Leader of the Opposition himself said, in one of his rare moments of lucidity, 'This money comes out of workers' pockets.'

Opposition members interjecting—

Mr Hockey interjecting—

Mr Perrett interjecting—

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

There will be silence on my left. The Treasurer will desist. And, if the member for Moreton has one more utterance, he will leave immediately.

Tony Abbott (Warringah, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

I want to see for the next 10 years this money stay in the pockets of the workers of Australia. If the workers of Australia wish to invest that money in superannuation they are perfectly free to do so but, as far as I am concerned, for the next 10 years that money should stay in the pockets of the workers of Australia.