QUESTIONS WITHOUT NOTICE
Dr MULINO (Fraser—Assistant Treasurer and Minister for Financial Services) (14:45): I thank the member for Makin for his question. I know the member for Makin, like every member on this side of the House, believes Australians who work hard throughout their lives deserve dignity in retirement. That is what Australia's world-leading superannuation system is designed to do, and that is why this Labor government is strengthening it.
We've delivered Payday Super, ensuring that workers who receive their super receive it with their wages, helping their savings grow. I acknowledge the work of the Treasurer in delivering this really important reform. Currently, far too much money isn't going into members' accounts.
We've included super on paid parental leave so that parents can grow their retirement savings while looking after their kids. We have strengthened the low-income super tax offset, helping 1.3 million Australians build stronger super balances. Our position is simple: superannuation is for retirement.
But I'm asked about the risks. Listening to the Liberals, the Nationals and One Nation talk about superannuation lately, you could be forgiven for thinking that you've gone down the rabbit hole, because on that side of the House we have entered 'superannuation in wonderland'. This is a place where up is down, down is up and less retirement savings somehow means more retirement security.
It's economics through the looking glass. First, we have Tweedledee and Tweedledum. That's One Nation and the coalition.
I won't say which is which; I suspect they're still negotiating that themselves! They spend their days swapping policies, borrowing each other's lines and arguing over who thought of the latest plan to raid super. Then, just like the Cheshire Cat, we have the Leader of the Opposition.
Every now and then he just appears in the superannuation debate. Then, when somebody asks what he actually believes in, he gradually disappears. Just like the Cheshire Cat, his spine goes first, then his substance goes until finally all we have is a grin at a press conference saying he has an open mind.
Presiding over the whole chaotic tea party is the shadow treasurer, our very own Mad Hatter of superannuation policy. In his wonderland, superannuation policy is economic insanity. But, just to clarify for the House, 'economic insanity' in wonderland means 'I support it in principle and I'm willing to work constructively with the government to strengthen it.' It would be funny if the consequences weren't so serious.
In the real world, super helps millions of Australians build security and independence in retirement, because a good retirement should not be make believe for Australian workers. Less super means less security in retirement. It means Australians having to work longer, because they can't afford to retire.
The coalition and One Nation can hold as many mad tea parties as they like together, but Labor will stay firmly on this side of the looking glass. We built universal superannuation, we've strengthened it and we'll defend it.