Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Link to this | Hansard source

That is not part of our housing agenda—it hasn't t been—and it is not part of our super agenda. I should say that. We are about strengthening superannuation—making sure the superannuation guarantee has continued to increase—and also about paying super on PPL, making sure that women who have taken time out of the workforce to care for children and receiving PPL get superannuation paid on that. That has been our focus. Of course, we've got the high-balance superannuation changes we'd like to get through the Senate as well.

Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Link to this | Hansard source

I'm giving you an outline of our superannuation policy. Our housing policies, some of which are stuck in this place, are all about increasing the supply of housing and using government's investment to generate that additional supply of housing, whether it be through infrastructure, working with states and territories, building the workforce with our fee-free TAFE—I note you were also opposed to that; it is hard to believe that there's a major political party in this country that would be opposed to fee-free TAFE when we've got skills shortages—additional investments in rent assistance, the Housing Australia Future Fund or the Social Housing Accelerator.

Andrew Bragg (NSW, Liberal Party, Shadow Assistant Minister for Home Ownership) Share this | Link to this | Hansard source

Is that going good? How many houses?

Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Link to this | Hansard source

It's going very well, thank you, Senator Bragg—very well indeed.

Sue Lines (President) Share this | Link to this | Hansard source

Senator McKenzie, first supplementary?

Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Link to this | Hansard source

We can go through all the reasons why we don't support super for housing, but I can also quote others, including economists, who would say that it would be one of the worst public policy decisions of the 21st century if we were to allow super to be raided for housing.

I don't think you're across the announcement that we made today about the Future Fund, where we actually deferred drawdowns until the 2032-33 year, providing certainty to the Future Fund. So it's the opposite to your imputation that there is a raiding of the Future Fund.

Sue Lines (President) Share this | Link to this | Hansard source

Senator Hume, you asked your question.

Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Link to this | Hansard source

We are deferring any drawdown of the Future Fund. We haven't changed the rate of return and we haven't changed the risk profile, so none of that changes—absolutely none. We've simply said, 'Consider housing, energy transition and infrastructure resilience'—hardly things I would imagine this chamber wouldn't support. (Time expired)

Sue Lines (President) Share this | Link to this | Hansard source

Senator McKenzie, second supplementary?

Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Link to this | Hansard source

There is an existing regulatory arrangement around how superannuation funds operate. There were no changes to that in the announcement today. The announcement today was simply and really is about—the hysteria from those opposite!—saying that the Future Fund Board of Guardians, if they are contemplating investments and being mindful of rates of return and risk as the main priorities, should look at housing, economic infrastructure resilience and security, and the energy transition. It is hardly world-stopping news.

The:

Minister Gallagher, please resume your seat. Senator McKenzie, there's no need to call out 'point of order', because I can see you standing there.

Penny Wong (SA, Australian Labor Party, Minister for Foreign Affairs) Share this | Link to this | Hansard source

She did.

Sue Lines (President) Share this | Link to this | Hansard source

Senator McKenzie, you're getting into a debating point, and the minister began the answer to her question addressing your question specifically.

Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Link to this | Hansard source

I answered the question. There are no changes to the way superannuation funds are regulated in this country.