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Tuesday, 25 March 1997
Page: 2430


Senator KEMP (Assistant Treasurer)(9.14 p.m.) —All the amendments moved by Senator Sherry flow from the opposition's policy to remove the ability of the employer to open an account on behalf of the employee. That is the fundamental position of the opposition. It is not our position. Implicit in our policy is that we have quite a different approach to that of the opposition.

We have already opposed these amendments and the underlying principles on the grounds of competitive neutrality and efficiency. We will not be supporting the amendments which have been moved by the Labor Party. It is yet another attempt to put into effect Labor's policy, the opposition's policy. It is not our policy. Our policy has a different approach. We believe that there should be a level playing field and a competitive neutrality between these two types of superannuation products.