Matthew Canavan (Queensland, Liberal National Party) Share this | Hansard source

The only reason they did it was to bring some more money into the forward estimates so that somehow their budget looked better. They wanted to do that on the backs of hardworking Australians who save their money. I am very happy that this government rejects that approach. We will be returning to the historic precedent of 101 years of not touching people's bank accounts for seven years. If people have used that account within that seven-year period in some shape or form, they can be assured, after this bill goes through, that it will remain their money.

My colleague, Senator Williams, made a good point earlier: when that raid occurred on people's money some years ago, a few people were caught red-handed in the act. Senator Wong was there as finance minister; Senator Conroy was part of cabinet; I am not sure whether Senator Carr was in cabinet—he was in and out a few times—