Nicolle Flint (Boothby, Liberal Party) Share this | Link to this | Hansard source

My question is to the Minister for Jobs, Industrial Relations and Women. Will the minister update the House on measures the government is taking to support Australian families by helping working women enjoy greater financial security in retirement? Is the minister aware of any threats posed by alternative approaches?

Kelly O'Dwyer (Higgins, Liberal Party, Minister for Jobs) Share this | Link to this | Hansard source

I thank the member for her question. She knows, like all of those on this side of the chamber, that the best form of financial security is to be able to get and keep a job, and I'm pleased to say that there are more Australians in work than ever before and, under this government, there are more women in work than ever before, and the gender pay gap is shrinking under our stewardship. It was 17.2 per cent under the Labor Party. It went up under the Labor Party from 15.5, and it has come down under us to 14.5 per cent. It is, in fact, at a record low.

We've also introduced crucial flexibility measures to allow women with interrupted work patterns to make catch-up superannuation contributions, something that those opposite would abolish. We've levelled the playing field. We've scrapped the restrictions on personal deductible contributions, helping those women, in particular, who work in roles without access to salary-sacrificing arrangements. Again, those opposite would abolish this. This government has introduced crucial reform legislation that would stop the rorts and the rip-offs that have been occurring in the superannuation sector and provide significant financial security to millions of Australian women.

You would think that, if those opposite were actually interested in financial security, if they really wanted better incomes in retirement, they would the fact support that package of reforms. But, sadly, I can inform the House that they do not support it. Those opposite pretend to care about the retirement savings of millions of Australian women, but if they really cared they would stop standing arm in arm with giant insurance companies and protecting high-fee-charging superannuation funds. They would, in fact, back the government's reforms.

But why don't they do that? Because they've got a dirty little secret. The dirty little secret is that the Leader of the Opposition, when he was the minister responsible, scrapped the protections for low-balance accounts from high fees, and he forced every single Australian, regardless of age or circumstance, to pay insurance premiums. So we hear from them excuse after excuse after excuse as to why it is they can't support it, but they should be clear with the Australian people. In standing in the way of these reforms, the Labor Party are costing millions of Australian women billions of dollars in retirement. So, if they really care, they should stand with us, be bipartisan and support the legislation that we have moved. (Time expired)