Nick Sherry (Tasmania, Australian Labor Party, Minister Assisting the Minister for Tourism) Share this | Hansard source

Thank you for that question. It is very important. I have just highlighted lost accounts. The former Liberal government had almost 12 years to find an effective solution and they did nothing. That theme has continued and I will continue to highlight it. A large part of the proceeds from the mining tax, which this government will be proudly presenting to this parliament and which the Liberal Party have said they are going to repeal, will be going to supporting the increase in the superannuation guarantee, which will result in an increase in the retirement savings on average of $110,000. Part of the mining tax proceeds will be going to effectively remove the contributions tax from 3½ million Australians. What are the Liberal Party going to do? They are going to give the mining tax revenue back to the mining companies, who actually want to pay it to the government, and at the same time increase the contributions tax on 3½ million Australians' superannuation. (Time expired)