STATEMENTS BY SENATORS

Senator DARMANIN (Victoria—Deputy Government Whip in the Senate) (13:39): One Nation unveiled a new superannuation policy this week, and they are so confident in it that they refuse to have it costed. Well, I've done the maths and worked it out. This one is a super dodgy deal for workers.

One Nation's big idea is that workers can cash out three per cent of their super contribution per year for three years. For the average worker, that's about $6,900 over three years. But what's the real cost?

Because of compounding interest, for the average 30-year-old, that $6,900 would grow to be worth $25,000 at retirement, according to the Super Members Council. This is not a proposal that will give today's 30-year-olds $6,900. It is a proposal to rob them of $18,000 at retirement.

If One Nation is really serious about helping workers with the cost of living, let's have a look at the value of things that are helping workers with the cost of living today that they have opposed: $12,000, which is the amount by which a minimum wage worker's annual pay has risen under Labor, pay rises that One Nation opposed; $3,000, the yearly amount that we've put back into the average worker's pocket by cutting their taxes, tax cuts that One Nation opposed; and $47.65, which is how much the average hospo worker earns in penalty rates when they work on a Sunday; Senator Hanson wants to get rid of these altogether.

And this one's priceless: 10 days of paid domestic violence leave, which Labor put in the National Employment Standards—or, as Senator Hanson calls it, 'holiday leave'. This new policy is nothing more than a reckless and dangerous policy that entrenches poverty in retirement, from a political party that has a clear track record of voting against cost-of-living measures to support workers today every single time they get the chance.