Deborah O'Neill (NSW, Australian Labor Party) Share this | Hansard source

Just in the last 24 hours there have been reports in the news about the decline in the number of female CEOs across this nation. In fact, 91 per cent of CEOs are still men. That's a bit of a problem. Thank goodness that isn't a problem here in this parliament, and that is why we are here debating this very important piece of legislation coming from a Labor government. Happily, because of quotas that were instituted several decades ago, we are now at a point where we're on the cusp of fifty-fifty throughout our entire organisation. That makes a difference to the kind of legislation that comes before this parliament, and it makes a difference to women.

This bill implements a 2024-25 budget measure first announced in March 2024 with the launch of Australia's national strategy for gender equality, called Working for Women. It says two things about this Labor government. There are enough women here to get around the tables where decisions are being made and influence policy to catch up with what should have been in place for a very long time and has been opposed and ignored by those opposite forever. This bill is going to introduce superannuation on government-funded paid parental leave for children born or adopted on or after 1 July 2025. It will make annual government-funded superannuation contribution to the paid parental leave receipts superannuation account. This is really monumental legislation in its importance to women, certainly, but also in stitching part of a large tapestry of social progress in this country: achieving gender equality in Australia.

Clearly, having a child is a massive decision. The best three decisions I made in my life are my three children. Well, their dad had something to do with it, as well! It's great to be a mother. But it's nice to be able to work and to care. This government takes every opportunity to remove those hurdles that prevent parents from spending as much time with their child during their first year as we possibly can. We ensure that the financial constraints of lower superannuation balances that this legislation addresses are going to be absolutely, properly considered. Improving paid parental leave is a critical reform. It's critical for families, women and the economy. We know that. Businesses, unions, experts and economists all understand it's one of the very best ways to boost productivity and participation. Let me just repeat that again. The economics of this—to boost productivity and participation for the nation—is to move more choice and more support as an opportunity for women.

The Australian superannuation system is the envy of the world. I've often said in this place that, in Curran Road, Blacktown, where my parents had their first fibro house, superannuation wasn't a conversation we had. People didn't even know about it unless they had a special job. My mother used to talk in revered terms about being in the public service. Those sorts of people spoke about superannuation, not those on Curran Road, Blacktown. It wasn't anything we understood. But we understand now that it means Australians can have a dignified life well into their retirement. We know that a great superannuation system brings down barriers for everyone. But it's really important we continuously move this forward to avoid the gender inequality that has become apparent to us. We know that women often retire with about 25 per cent less in their superannuation balances than men. And we know that women are taking up more of the childcare workload in the family home, including in the first year of a child's life. We know that being without superannuation during this time is really impacting, in a compounding-interest way, what women are going to have at their point of retirement.

The success of this legislation coming forward is embedded in work done by critical unions as well. I want to give praise to the SDA, a union which did a huge amount of work. Six thousand workers in the retail sector were interviewed, and a research paper about work and care was advanced. Gerard Dwyer, the National Secretary of the SDA, said of the changes that we are proposing: 'This is another sign that this government means what it says when it talks about its commitment to gender equality. It's not just a matter of words but action.'

Women want to work and to care. We can do both, but we need systems in place that properly honour the commitment that we have to work and the rights we have to a dignified retirement. This piece of legislation is a change that I'm extremely pleased to bring to the chamber with my Labor colleagues. It certainly aligns with recommendation 16 of the final report of the Select Committee on Work and Care, where we took valuable evidence that confirmed once again that Australian women and their needs will always be at the heart of this very significantly female representative government.