Mathias Cormann (WA, Liberal Party, Shadow Assistant Treasurer) Share this | Hansard source

I move:

That the Senate take note of the minister’s explanation.

In December last year I asked Minister Shorten, through Senator Sherry, about the issue of superannuation contributions in excess of the concessional and non-concessional contribution caps. Anecdotal evidence that I am getting from financial advisers across Australia is that this is a worsening problem as a direct result of the actions of this federal Labor government. As you may well remember, Mr Deputy President, in the lead-up to the 2007 election the then Labor opposition promised the Australian people that they would not be making any changes to the superannuation contributions framework. ‘Not one jot, not one tittle,’ the then Leader of the Opposition, Kevin Rudd, said in the lead-up to the 2007 election. Of course, one of the many broken promises of this government was that they halved—