Catryna Bilyk (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister for Finance, representing the Treasurer, Senator Cormann. I refer to the Treasurer's latest thought bubble involving young Australians accessing their superannuation to purchase a home. Does the finance minister stand by his previous statement of 'Pumping more money into the housing market by letting people access their superannuation savings more freely will not bring down the cost of housing;'?

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

My views were very clearly put on the record towards the end of last year. The government has not actually put any proposal on the table to let people have access to their superannuation to buy their first home. However, we do know who has put a proposal like that on the table before, none other than former Labor Prime Minister Paul Keating, who in 1993 said that we should let people have access to their superannuation to buy their first home.

Kim Carr (Victoria, Australian Labor Party, Shadow Minister Assisting the Leader for Science) Share this | Link to this | Hansard source

That was when it was 15 per cent.

Stephen Parry (President) Share this | Link to this | Hansard source

Order on my left.

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

No, it was not 15 per cent in 1993. Senator Carr was already in the Senate at the time so he will be able to confirm what I am saying. He is trying not to look at me because he knows that I am telling the truth. He knows that it was none other than former Prime Minister Paul Keating who said that we should let people have access to their superannuation to buy their first home.

The truth is that all the Treasurer has said and all the Prime Minister has said in the context of proposals being put together was 'let's have a conversation about it'. We should have lots of conversations. But what we should have a conversation about is? How we can fix the mess that the Labor Party left behind? How we can get spending growth back on a more sustainable foundation? How we can get the budget back under control so that we can put Australia a stronger foundation for the future, protect our living standards, build a stronger more prosperous economy, create more jobs and ensure that everybody has the best possible opportunity to get ahead?

The Labor Party coming in here and playing politics again does not actually add anything to the debate. What the Labor Party should do is engage seriously in the conversation about the future of our country. (Time expired)

Catryna Bilyk (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

Mr President, I ask a supplementary question. I refer to comments by the Prime Minister who has described accessing superannuation to purchase a home as 'a perfectly good and respectable idea'. I also refer to comments by the alternative Prime Minister, the Minister for Communications, who said it was, 'a thoroughly bad idea'. Who is correct, Prime Minister Abbott or Minister Turnbull?

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

There are a lot of good people from across Australia who have put that idea to us. The Prime Minister is very respectful of good people across Australia putting forward ideas. The government does not just dismiss any idea that is put forward in an arrogant fashion like the Labor Party appears to do.

We have a Prime Minister with a thoroughly bipartisan spirit. He did not want Mr Keating to feel bad about the fact that this is an idea that he has put forward in the past. I would have thought that the Labor Party would be grateful for the bipartisan spirit with which our Prime Minister—

Stephen Parry (President) Share this | Link to this | Hansard source

Pause the clock. Senator Wong, do you have a point of order?

Penny Wong (SA, Australian Labor Party, Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

Yes, Mr President. I am sure we are all very grateful for the reference to the former Labor Prime Minister Keating, the architect of superannuation. But the question was about the inconsistency—or the contradiction—between the alternative Prime Minister, Mr Turnbull, who said this was a thoroughly bad idea, and the Prime Minister, who says this is a perfectly good idea. That was the question and I would ask the minister to be directly relevant to the question.

Stephen Parry (President) Share this | Link to this | Hansard source

Thank you, Senator Wong. In relation to your point of order—

Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

Come on, Terminator!

Stephen Parry (President) Share this | Link to this | Hansard source

Order! It would be appreciated if you referred to members in the other house by their correct titles. Senator Cormann, you have 24 seconds left in which to answer the question.

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

Thank you very much, Mr President. I just noted the ultimate vote of no confidence by Senator Wong for the leadership of Bill Shorten, because we on this side of the chamber thought that Bill Shorten was the alternative Prime Minister. But, of course, Senator Wong has different ideas!

Stephen Parry (President) Share this | Link to this | Hansard source

Pause the clock. Senator Conroy, do you have a point of order?

Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

Yes, Mr President. My point of order is on relevance—

Opposition senators interjecting—

Eric Abetz (Tasmania, Liberal Party, Minister for Employment) Share this | Link to this | Hansard source

The smart aleck point of order has backfired!

Stephen Parry (President) Share this | Link to this | Hansard source

Order on both sides!

Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

There is no construction of this question that could involve reference to Mr Shorten. Mr President, could you ask the minister to come back to the question, please?

Stephen Parry (President) Share this | Link to this | Hansard source

Thank you, Senator Conroy. I do not believe there is a point of order there. Senator Cormann, you have seven seconds in which to respond.

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

Clearly, Senator Wong is embarrassed that former Prime Minister Keating put forward that proposal. My belief in relation to this— (Time expired)

Catryna Bilyk (Tasmania, Australian Labor Party) Share this | Link to this | Hansard source

Mr President I ask a further supplementary question. I refer to comments by Mr David Murray, chair of the government's Financial System Inquiry, who says:

To divert money into housing at any stage during the build-up in superannuation savings is not consistent with having a good retirement income system.

Is Mr Murray correct?

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

Mr Murray is a fine man. And do you know what? When you are having a national conversation you actually want to hear a diversity of views. We have people from the Labor side who think it is a good idea to let people have access to their super to access their first home, as we have people on the coalition side—indeed, I think that Senator Canavan has pursued similar proposals in the past. And also Senator Xenophon, indeed—and I see him nodding, not from his chair. There is a whole range of people who have put a range of diverse views. But the government is actually very keen to engage with all the good people across Australia. We are not here dismissing views that are right from the top.

My personal views are well known. I have put them on the record in the past. There is no government proposal on the table, but I see that the Labor Party is very uncomfortable about having a national conversation about anything. It is time that the Labor Party actually started focusing on public policy.

Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

Mathias, there was a bloke who looks just like you at the grand prix yesterday!

Stephen Parry (President) Share this | Link to this | Hansard source

Order! Senator Conroy—there is someone who looks like you in the chamber!