Bill Shorten (Maribyrnong, Australian Labor Party, Leader of the Opposition) Share this | Hansard source

Be careful, say nothing. They would attack one of the great savings vehicles of Australia. We know we are living longer and that is a good thing. We know that healthcare costs go up. What is this mendicant generation-wrecking government choosing to do? They are denying people the financial wherewithal to have enough money in their accounts to pay for their health care in retirement.

They love to talk about infrastructure. If infrastructure could be built by words alone then these would be the crane kings. We know that infrastructure is funded by superannuation and they are starving Australia of infrastructure funding by starving superannuation funds. What I particularly find galling in what they have done is that they have fed the beast of minority parties' publicity seeking with no interest in the long-term.

I get they have to do deals. I understand they do some horse trading. But never would I imagine that they would put on the chopping block Australia's great superannuation system. They are strangling the superannuation system and starving it of resources. They have managed to get the mining tax off the back of nine companies and the deal they got for it? Nine million people having their superannuation frozen. I would not send this mob to buy a litre of milk at the milk bar; they would end up selling the house on the way through.

They talk about wages. Getting a lecture about workers' wages from these people is insulting. I must concede, Tony Abbott has the hide of a rhinoceros or a sense of humour that no-one has yet discovered when he declares that he is the worker's best friend in giving them money. Let me be clear and let me remind Australia: the Liberal Party opposite—all of them—have never supported wage rises for workers. So be very careful: when you hear Tony Abbott promising a wage rise for workers it is time to panic—put the money in the shoebox!—because these people do not know. They think manual labour is a Spanish tennis star! They have never backed in Australian workers.

What they do is say, 'We're going to back in wages.' So this is the real story of the dirty deal done cheap by these people. What they first of all said was, 'We're not going to have Australians save for their retirement.' They said, 'We're going to get wage rises for workers.' As if! As if anyone believes that! The real reason—the only thing they have done here—is that they have given corporate profits a kick along, because without the savings—and we know that they do not back wages—the only people who benefit from this decision are some corporations who will increase their profits. And that is the essence of the Palmer-Abbott deal.

Who wins in this deal? Who wins by losing a mining tax? Mining companies, including Palmer. Who wins in this deal if you do not have to pay increased superannuation? Mining companies—they do not have to pay more in their wages and they do not have to pay more in their superannuation. This mob opposite favour offshore profits over onshore savings. Do not ever again, Prime Minister, talk to us about mandates. You have no mandate to wreck the superannuation system.

You have no mandate to lecture the Australian people on debt when, in fact, you are discouraging them from saving. They have this audacity—this stupid, short-term government—they have superannuation in their sights and they are freezing it and wrecking it. Why should nine million Australians retire with less money than they otherwise would have? What I find particularly galling in getting a lecture from the Prime Minister of Australia and the Treasurer of Australia is that none of their decisions will hurt them.

They make a decision which hurts nine million real people, 3.2 million small businesses and 1.3 million families, and there is no skin in the game from that mob opposite.

I say to the government: you have made super an election issue and we will win that fight. (Time expired)

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