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

My question is to the Minister for Revenue. Given the Treasurer has just rejected meeting with the opposition to negotiate a bipartisan agreement on superannuation policy, does the Minister for Revenue stand by her answer a few minutes ago when she said she was looking forward to having a meeting with the member for Fenner to reach a bipartisan agreement on exactly that?

Kelly O'Dwyer (Higgins, Liberal Party, Minister for Revenue and Financial Services) Share this | Link to this | Hansard source

I thank the member for his question. I think if he reviews the Hansard,hewill see I welcomed the opportunity to sit down with the member for Fenner to discuss, on a bipartisan basis, the government's announcement as announced in the budget. There is hardly anything controversial in that.

I would say to the member that our superannuation package has been welcomed by so many stakeholders. Let me quote just a couple of them. The Australian Institute of Superannuation Trustees said of our superannuation package:

Key superannuation measures announced in tonight’s federal budget are a necessary step toward a fairer and more sustainable super system.

Industry Super Australia said:

The budget papers show the government has rightly wound back $4.5 billion in overly generous super tax concessions benefitting high income earners with large super balances needing no help to save for retirement.

It goes on. In a letter to the Prime Minister, ACOSS and COTA said of our changes:

… the Budget Superannuation Reform package takes important and significant steps in the right direction; creates a fairer and more sustainable superannuation system; and is not retrospective in nature. The tax treatment of superannuation will remain highly concessional once these measures are fully implemented.

Our superannuation package is vastly superior to the one of those opposite. We announced it in the budget. We believe in our superannuation package. We welcome the opportunity to sit with those opposite to discuss our package.