Tim Wilson (Goldstein, Liberal Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Will the Treasurer update the House on how the government's strong economic management is providing economic security for senior Australians, including in the Goldstein electorate? Is the Treasurer aware of any alternative ideas?

Josh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I thank the member for Goldstein for his question. He knows that the coalition is absolutely committed to supporting the 30,000 seniors in his electorate and the millions of seniors around the country, in stark contrast to those opposite. For the Labor Party, senior Australians are a piggy bank to raid when they run out of money. They treat senior Australians as a piggy bank.

Honourable Members:

Honourable members interjecting—

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

The Treasurer will pause for a second.

Mr Bowen interjecting—

The member for McMahon will cease interjecting; he's warned. The member for Fenner has already been warned. He can leave under standing order 94(a).

The member for Fenner then left the chamber.

Josh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Link to this | Hansard source

For the coalition, it's all about providing choice, encouraging personal responsibility and helping those who are in need, whether that is in terms of aged care, employment, lifelong learning, maximising their retirement income or healthy living. We are able to provide those services to senior Australians because we have put in place the foundations for a strong and growing economy. That's our track record. If you look at the last budget, there was $1.6 billion for 20,000 new home care places. There was more than $100 million for better facilities, better care and better services and an additional $5 billion going into aged care over the next five years, so that, in total, $23.6 billion will be spent on aged care. We know that that stands in stark contrast to that which is proposed by those opposite.

The Labor Party will hit senior Australians with a retirees tax. We know that they will hike energy bills. They will hike energy bills, which will hurt senior Australians the most. Their retirees tax will hit 900,000 Australians—pensioners and self-funded retirees. Eighty-four per cent of those affected have a taxable income of less than $37,000, and 96 per cent of those affected have a taxable income of less than $87,000. This is not the multimillionaires club. These are hardworking senior Australians who have saved and sacrificed for their retirement. We know that, under the Labor Party, senior Australians will be hit with higher energy bills. We know that there won't be as much money for aged care, and we know that they'll be hit with a retirees tax. So, under the Labor Party, every single Australian will pay more and senior Australians won't be spared from their taxes.