Peter Dutton (Dickson, Liberal Party, Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Prime Minister. Was the Prime Minister aware, when he made public commentary on this matter last week, of the Treasury advice that one in 10 Australians will be affected by the proposed super changes? If so, Prime Minister, what is your advice to a 37-year-old making investment decisions today about their superannuation who would be affected by these changes?

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

I thank the Leader of the Opposition for his question. My advice to a 37-year-old would be to listen to old Angus, not new Angus, because in June 2016—

Milton Dick (Speaker) Share this | Link to this | Hansard source

Order! The Prime Minister will refer to members by their title.

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

The shadow Treasurer, in June 2016—

Milton Dick (Speaker) Share this | Link to this | Hansard source

I'll hear from the Leader of the Opposition on a point of order.

Peter Dutton (Dickson, Liberal Party, Leader of the Opposition) Share this | Link to this | Hansard source

On relevance, it was a straight question. It didn't require a slippery answer.

Milton Dick (Speaker) Share this | Link to this | Hansard source

The Prime Minister will continue.

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

Thank you very much, Mr Speaker—

Peter Dutton (Dickson, Liberal Party, Leader of the Opposition) Share this | Link to this | Hansard source

Can you answer the question or not? Does he know about the advice or not?

Milton Dick (Speaker) Share this | Link to this | Hansard source

Order! The question was about advice to the Prime Minster. He is answering the question. I give him the call, and he'll be heard in silence.

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

He is very angry. He can save the yelling for the New South Wales Liberals' campaign launch on Sunday. Save it for that. This is what the shadow Treasurer had to say: 'The situation we had was some people were contributing millions of dollars into super and it is totally inappropriate that someone who has contributed millions and millions of dollars continues to get those 15 per cent concessions.' That is what they had to say—well done, Angus! It was after the Treasurer's budget speech that year that the then Treasurer, the member for Cook, had this to say: 'We will be reducing access to generous superannuation tax concessions for the most wealthy.' Today they have come in here today, and we have let question time go for over an hour and a half. They have finally asked a question about super, and what they talk about is something that happens in 30 years, even though, when they made the changes in section 293 and section 293, they didn't index it. They didn't index income tax rates. I make this bold prediction: in 30 years' time, some people will be earning more than they are today in dollar terms, some people will be paying different income tax rates in 30 years than they are now and different people will be contributing under section 293 in superannuation—the changes that those opposite delivered in 2016-17. But the difference is this: our tax changes affect one-half of one per cent.

Milton Dick (Speaker) Share this | Link to this | Hansard source

The Prime Minister will pause.

Honourable members interjecting—

Order! The House will come to order. The member will resume his seat. I didn't hear what the Treasurer said. I'm asking if he would withdraw to assist the House.

Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

I withdraw.

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

The difference is this: our changes affect half of one per cent. The changes of those opposite affected four per cent. They weren't indexed. They had an impact of $5 billion. Our modest changes— (Time expired)