Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

I propose to speak briefly on behalf of the government in relation to all of the amendments that Labor have circulated on this bill. The government does not support the amendments moved by Senator Cameron on behalf of the opposition. The effect of the amendments he has circulated would reduce the savings generated from this bill from about $1.7 billion over the current forward estimates to just $30 million over the current forward estimates period. Agreement to these amendments would put at risk the savings the government has identified to facilitate the important childcare reforms to be delivered. The opposition are opposing savings measures that are fair and reasonable. Indeed, they are opposing savings measures that they themselves in the past have pursued. Opposing indexation in schedules 1 and 4 is a lever, indeed, that has been used by successive governments, including Labor in government, to realise budget savings by slowing the growth in social security expenditure. Again, I confirm that nobody will end up receiving less in dollar terms. They just will not receive the same level of indexation.