Chris Bowen (McMahon, Australian Labor Party, Shadow Treasurer) Share this | Link to this | Hansard source

My question is to the Treasurer. The Treasurer and the Prime Minister have both claimed that budget repair is the Turnbull government's greatest moral challenge. So why is the Treasurer adopting a superannuation policy that leaves the budget $1 billion worse off over the forward estimates compared to the superannuation proposal put forward by the Leader of the Opposition?

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I thank the member for his question, because reference was made earlier in question time to what was known as the low income superannuation contribution, which was introduced by those opposite.

Opposition Members:

Opposition members interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Jagajaga.

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

The only problem was that they were paying for it with the mining tax, the genius invention of the former Treasurer, the member for Swan. The mining tax was going to pay for the low income superannuation contribution. That was their genius plan to pay for a genuine improvement in superannuation, which in our budget we sought to restore in the form of the Low Income Superannuation Tax Offset. We came up with a way to ensure that those on incomes of less than $37,000 would be able to not pay more tax on their superannuation contributions than on their own income. We achieved that in the measures that we outlined in this budget and in the measures we announced today. When those opposite want to spend a lot of money, they never come up with the revenue or the other savings, more importantly, to pay for it. When it comes to childcare reform—

Honourable members interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The Treasurer will resume his seat. The level of interjections is far too high. The member for Lindsay—I could not have made it any clearer yesterday or again today—will leave under 94(a). The member for Bruce is warned. The member for Deakin is warned.

The member for Lindsay then left the chamber.

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I am reminded by my colleagues that I have committed a great offence to my good friend the member for Swan. I should never have referred to him in those terms paralleling him with the member for Lilley. That is a terrible slight and I deeply apologise for making a comparison with the member for Lilley, who was the great architect of 'the four surpluses we announce tonight' and the mining tax revenue that never existed. It vanished like the superannuation policy of those opposite. On this side of the House, if there are important measures we want to pursue like reforms to make childcare more affordable, we come up with ways to pay for it. When we want to reform superannuation to make it more flexible and more sustainable, and in a way that recognises more the challenges faced by those on low incomes, those in home based businesses or contractors—

Mr Brian Mitchell interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Lyons is warned—

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

we work out how to pay for it with real revenue, or, in the case of spending, by finding spending offsets to achieve it. Those opposite should reflect on the practice of a government that knows how to consult and work through difficult issues and improve measures, not see them retard as those opposite pursue their processes where they take something that starts as a pretty bad idea and always end up being something far worse. On this side of the House we are delivering superannuation reform that will help support Australians to become independent in retirement, and we will ensure that not only this generation of Australians can achieve it, but others can too. (Time expired)