Mark Baker (Braddon, Liberal Party) Share this | Link to this | Hansard source

My question is addressed to the Minister for Revenue and Assistant Treasurer. Would the minister outline to the House how the government’s plan to simplify superannuation will provide certainty for Australians in their retirement?

Peter Dutton (Dickson, Liberal Party, Minister for Revenue and Assistant Treasurer) Share this | Link to this | Hansard source

I thank the member for Braddon very much for his question and acknowledge that he is a great supporter of the superannuation reforms that have been introduced by this government. The government’s superannuation policy will set up the next generation in this nation. It is an economically responsible mechanism that will set up an ageing population and will provide support to generations to come. The co-contribution scheme, which was introduced by this government, allows people across this nation who are earning low incomes to put more money into superannuation. Over the last year, about 7,637 people in the electorate of Braddon have benefited from the co-contribution scheme; that is a great outcome for Australian low-income earners.

What we know about the superannuation scheme we have put in place, which was announced in the May budget this year, is that we have extended the co-contribution to self-employed people, and they have not been able to benefit from that policy in the past. We have halved the pension assets test taper rate. We have put in place a mechanism of support for people in small business, who now can put money into their superannuation in a way that in the past they have not been able to.

Looking at those opposite, we know that the former shadow Assistant Treasurer, the member for Hunter, has been silent on these issues. We know, of course, that he has been very busy over recent months and it has all come to culmination today. Perhaps it is an opportunity for his successor to look at superannuation—at least for somebody on the Labor front bench to please look at superannuation and to provide some comment, some support for superannuation. What the Australian people face now is a decision between old Labor with a new salesman and this side of the House—

Wayne Swan (Lilley, Australian Labor Party, Shadow Treasurer) Share this | Link to this | Hansard source

Mr Swan interjecting

David Hawker (Speaker) Share this | Link to this | Hansard source

Order! The member for Lilley!

Peter Dutton (Dickson, Liberal Party, Minister for Revenue and Assistant Treasurer) Share this | Link to this | Hansard source

which is going to set up the economic future of this country. It is a very stark contrast, and it is an opportunity for the Labor Party now at last—

Wayne Swan (Lilley, Australian Labor Party, Shadow Treasurer) Share this | Link to this | Hansard source

Mr Swan interjecting

David Hawker (Speaker) Share this | Link to this | Hansard source

The member for Lilley is warned!

Peter Dutton (Dickson, Liberal Party, Minister for Revenue and Assistant Treasurer) Share this | Link to this | Hansard source

to come out and support superannuation.