Tanya Plibersek (Sydney, Australian Labor Party, Deputy Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Treasurer. The Treasurer's scrapping of the low-income superannuation contribution will mean that a woman earning $37,000 a year will lose $500 for every year of her working life from 2017 onwards. Why is the Treasurer putting the interests of one billionaire ahead of more than two million women on low incomes?

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

It sounds remarkably like a question asked yesterday, but I will give the call to the Treasurer.

Andrew Nikolic (Bass, Liberal Party) Share this | Link to this | Hansard source

Speaker, I rise on a point of order. I refer you to page 562 of the Practice, which specifically says that a question fully asked and answered must not be asked again.

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

It is a very good point of order but it does not apply when it is not on the same day. So we will give the call to the Treasurer.

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I thank the honourable member for the question.

The fact of the matter is that the best way you can help to grow the pool of superannuation in Australia is to have a strong economy; to have a strong economy with profitable businesses, improving real value in real estate and people in jobs. From our perspective it is hugely important that we also ensure that we can afford what is going to be a significant growth in superannuation contributions over the long term.

I do want to remind the honourable member for Sydney of a history that she was very much part of. In 2007 Kevin Rudd said that there would be no change to the superannuation laws—not one jot nor one tittle. And we know it is an accurate quote because only Kevin Rudd would say something like that, right? So, one jot and one tittle! In the 2009 budget Labor hit low-income earners earning less than $30,000 a year, and hit them with what was called a 'temporary measure' that was going to cut $1.4 billion from people earning less than $30,000 a year. Strike 1.

Strike 2: they said that temporary measure the next year was going to be permanent and they said that would be an additional $350 million. Strike 2. But in the same budget they hit the low-income earners again. In the 2010 budget they said income thresholds would no longer be indexed by inflation.

Opposition Member:

An opposition member interjecting—

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I am just giving you your own history, here.

Tanya Plibersek (Sydney, Australian Labor Party, Deputy Leader of the Opposition) Share this | Link to this | Hansard source

Madam Speaker, I rise on a point of order on relevance. It would be terrific if he answered the question about the low-income super contribution.

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

It is a very wide ranging question when you put in your political content.

Ms Ryan interjecting—

When the political content is added to the question it becomes very wide ranging. The member for Lalor is again not in her seat and not entitled to speak. If she wishes to interject, softly, sotto voce, she can go back to her chair.

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

In the same budget, they hit low-income earners earning less than $31,920 for another $295 million. Then in the 2011 budget they hit the same people, earning $31,920 or less—another $195 million. Just to finish it off, in the following Mid-Year Economic and Fiscal Outlook they hit the same people with another $1 billion hit. In total, when they were in government the Labor Party hit people with superannuation with $9 billion of extra taxes. By the way, if the Labor Party really believe this is hurting Australians they should stand up here and reverse it. Stand up here and say that you will immediately reverse it if you are elected at the next election! Alternatively, say that you will back our PPL scheme, which pays superannuation for women. But spare us the hypocrisy of yet another failed Labor government, because the Labor Party has—

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

The Manager of Opposition Business on a point of order.

Mr Tony Burke (Watson, Australian Labor Party, Shadow Minister for Finance) Share this | Link to this | Hansard source

I think he has finished.

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

Has the Treasurer finished? No? The Treasurer has the call.

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I have finished. (Time expired)