Senator KEMP (Assistant Treasurer) (10:29 AM) —I just wish to briefly respond. Quite a wide ranging debate has ensued and I do not want to tackle the large range of issues that Senator Cook has just put on the table. They are debates for another day and let me assure you that we will join those with great vigour.

The truth of the matter is that the bulk of the savings rebate will flow to lower and middle income people. We have had a very extensive discussion on that, and it seems to me that no matter how often we put the figures out it does not make any impact on the other side. These are the estimates that we have received, and others may not accept them, but no alternatives have been put out to show where we are wrong. As I said, this is a fair and equitable measure and it provides an incentive to save. I think it will inevitably have the effect of encouraging private saving and that is what the government has stated. We will, therefore, not be supporting the amendments moved by the Democrats.