Jenny Macklin (Jagajaga, Australian Labor Party, Shadow Minister for Families and Payments) Share this | Link to this | Hansard source

My question is to the Prime Minister. Why is the Prime Minister trousering money from part-pensioners while at the same time failing to address unsustainable superannuation tax concessions for high-income earners?

Opposition Members:

Opposition members interjecting—

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

They are very sensitive over there!

Opposition Members:

Opposition members interjecting—

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

We know what the Leader of the Opposition—

Opposition members interjecting—

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

The Prime Minister will resume his seat. We are going to have some silence here. Whatever terms people might choose to use in their question, it is a serious question and we will have some silence for the answer. I give the call to the Prime Minister.

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

We know that no moneybox was safe when the Leader of the Opposition was in charge of the nation's finances; he would have that moneybox in his pocket as quickly as he could, he would 'trouser' it as quickly as he could. We want to ensure that the pension system is fair and sustainable. It will be a fairer system when 170,000 people of very modest means get an extra $30 a fortnight under this government. It will be a fairer system when millionaires are no longer part-pensioners. It will be a fairer system when people with more than $1 million in assets and their own home are no longer part-pensioners.

What the shadow minister is defending is a system that will take money away from people with modest assets and give money to people who are already millionaires. How lost is the modern Labor Party! I never thought I would say that the Greens are showing more sense on this issue than the Labor Party. But I believe they are. I think even the Greens are more interested than members opposite in sensible pension reform. What this government wants to do is to say to people who have $1 million in assets and their home: 'You no longer need the part-pension. Yes, you'll still get the Commonwealth Seniors Health Card, but you no longer need a part-pension.' If, on the other hand, you have got modest assets—and there are 170,000 of them—we want you to get an extra $30 a fortnight. That is fair and that is sustainable.

When it comes to superannuation, we know that Labor promised to make no changes to superannuation. We know that they then ripped off $9 billion—

Ms Ryan interjecting—

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

The member for Lalor will leave if she does not remain silent.

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

led by the Leader of the Opposition, who went after pensioners' piggy banks and sugar jars—wherever they had their savings untouched. He went after them. He could never see a bank account that he did not want to trouser. Well, we say to the pensioners of Australia and we say in particular to the retirees of Australia: your savings are safe with us. We do not see your savings as a piggy bank to be raided by government at need—unlike members opposite.