Senator SHERRY (Deputy Leader of the Opposition in the Senate)(12.33 p.m.) —I would like to thank again my colleague Senator Hogg for the work he put into this committee report. Also, like Senator Harradine, I thank the various organisations and individuals who presented submissions to the committee. Minister, as I understand it, your election commitment said that there would be no increase in existing taxes and no introduction of new taxes. Is that correct?

Senator Ellison —That is how I recall it.

Senator SHERRY —In view of consistency, how do you rate the government's new half a billion dollar superannuation tax on higher income earners in the context of that promise?

Senator Ellison —I don't think that is relevant to this debate.