Nicolle Flint (Boothby, 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 is laying the foundations for a strong economy and planning for an ageing population, including in my electorate of Boothby? Is the Treasurer aware of any other approaches?

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

I thank the member for Boothby for her question, because she deeply cares about the 27,000 seniors across her electorate and the nearly four million seniors across our country. She also knows that our government is preparing for an ageing population. According to the last Intergenerational report, the numbers of Australians who are over the age of 85 will increase fourfold between now and 2055 and the number of Australians who are over the age of 100 will increase ninefold between now and 2055. This affects the way we plan for our education, for our employment, for our health services and for our aged-care policy. That is why we are increasing the funding for aged care by $1 billion a year. That is why in this year's budget we announced new initiatives to help seniors if they choose to stay in the workforce longer, with the pension work bonus. That is why we announced in this year's budget a $17 million skills checkpoint plan in order to help older Australians get the training and the skills that they need. These plans of our government are working. Since the coalition came to government five years ago, over 400,000 older Australians have got a job as a result of our policies.

Now, I'm asked about the other side—the alternatives that are being proposed by those opposite. We know that they will send the energy bills of older Australians up. We know that they'll send the debt of the country up. We know that they'll put up taxes. And one of the most punishing taxes of all is the retirees tax, which will affect 900,000 Australians; 84 per cent of those Australians affected have a taxable income of under $37,000, and 96 per cent of those older Australians affected have a taxable income of under $80,000. So, only our government—

Ms Butler interjecting—

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

The member for Griffith is warned.

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

and the coalition can be trusted to create a stronger economy. Only our government and the coalition can be trusted to plan for our future, and only our government and the coalition will support senior Australians and the choices that they make.