

- Title
QUESTIONS WITHOUT NOTICE
Superannuation
- Database
Senate Hansard
- Date
07-11-2011
- Source
Senate
- Parl No.
43
- Electorate
- Interjector
Heffernan, Sen Bill
Conroy, Sen Stephen
- Page
8324
- Party
ALP
- Presenter
- Status
Final
- Question No.
- Questioner
Urquhart, Sen Anne
- Responder
Sherry, Sen Nick
- Speaker
- Stage
Superannuation
- Type
- Context
QUESTIONS WITHOUT NOTICE
- System Id
chamber/hansards/f3ed7254-6ea8-4ba1-8792-6d1c23d0eb29/0112


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-
Hansard
- Start of Business
-
BILLS
-
Clean Energy Bill 2011, Clean Energy (Consequential Amendments) Bill 2011, Clean Energy (Income Tax Rates Amendments) Bill 2011, Clean Energy (Household Assistance Amendments) Bill 2011, Clean Energy (Tax Laws Amendments) Bill 2011, Clean Energy (Fuel Tax Legislation Amendment) Bill 2011, Clean Energy (Customs Tariff Amendment) Bill 2011, Clean Energy (Excise Tariff Legislation Amendment) Bill 2011, Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Amendment Bill 2011, Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Amendment Bill 2011, Clean Energy (Unit Shortfall Charge—General) Bill 2011, Clean Energy (Unit Issue Charge—Auctions) Bill 2011, Clean Energy (Unit Issue Charge—Fixed Charge) Bill 2011, Clean Energy (International Unit Surrender Charge) Bill 2011, Clean Energy (Charges—Customs) Bill 2011, Clean Energy (Charges—Excise) Bill 2011, Clean Energy Regulator Bill 2011, Climate Change Authority Bill 2011
-
In Committee
- Abetz, Sen Eric
- Wong, Sen Penny
- Abetz, Sen Eric
- Wong, Sen Penny
- Mason, Sen Brett
- Wong, Sen Penny
- Xenophon, Sen Nick
- Wong, Sen Penny
- Xenophon, Sen Nick
- Wong, Sen Penny
- Xenophon, Sen Nick
- Milne, Sen Christine
- Wong, Sen Penny
- Xenophon, Sen Nick
- Wong, Sen Penny
- Xenophon, Sen Nick
- Wong, Sen Penny
- Xenophon, Sen Nick
- Wong, Sen Penny
- Xenophon, Sen Nick
- Wong, Sen Penny
- Xenophon, Sen Nick
- Wong, Sen Penny
- Birmingham, Sen Simon
- Wong, Sen Penny
- Birmingham, Sen Simon
- Wong, Sen Penny
- Birmingham, Sen Simon
- Wong, Sen Penny
- Birmingham, Sen Simon
- Wong, Sen Penny
- Birmingham, Sen Simon
- Wong, Sen Penny
- Birmingham, Sen Simon
- Wong, Sen Penny
- Birmingham, Sen Simon
- Wong, Sen Penny
- Birmingham, Sen Simon
- Wong, Sen Penny
- Birmingham, Sen Simon
- Wong, Sen Penny
- Birmingham, Sen Simon
- Wong, Sen Penny
- Birmingham, Sen Simon
- Wong, Sen Penny
- Birmingham, Sen Simon
- Wong, Sen Penny
- Birmingham, Sen Simon
- Wong, Sen Penny
- Cormann, Sen Mathias
- Wong, Sen Penny
- Cormann, Sen Mathias
- Wong, Sen Penny
- Cormann, Sen Mathias
- Wong, Sen Penny
- Cormann, Sen Mathias
- Wong, Sen Penny
- Cormann, Sen Mathias
- Thistlethwaite, Sen Matt
- Wong, Sen Penny
- Cormann, Sen Mathias
- Wong, Sen Penny
- Cormann, Sen Mathias
- Wong, Sen Penny
- Cormann, Sen Mathias
- Wong, Sen Penny
- Cormann, Sen Mathias
- Wong, Sen Penny
- Cormann, Sen Mathias
- Wong, Sen Penny
- Cormann, Sen Mathias
- Wong, Sen Penny
- Williams, Sen John
- Wong, Sen Penny
- Williams, Sen John
- Wong, Sen Penny
- Williams, Sen John
- Wong, Sen Penny
- Williams, Sen John
- Wong, Sen Penny
- Birmingham, Sen Simon
- Wong, Sen Penny
- Birmingham, Sen Simon
- Wong, Sen Penny
- Birmingham, Sen Simon
- Xenophon, Sen Nick
- Milne, Sen Christine
- Birmingham, Sen Simon
- Wong, Sen Penny
- Xenophon, Sen Nick
- Wong, Sen Penny
- Xenophon, Sen Nick
- Wong, Sen Penny
- Xenophon, Sen Nick
- Wong, Sen Penny
- Milne, Sen Christine
- Birmingham, Sen Simon
- Lundy, Sen Kate
- Birmingham, Sen Simon
- Xenophon, Sen Nick
-
In Committee
-
Clean Energy Bill 2011, Clean Energy (Consequential Amendments) Bill 2011, Clean Energy (Income Tax Rates Amendments) Bill 2011, Clean Energy (Household Assistance Amendments) Bill 2011, Clean Energy (Tax Laws Amendments) Bill 2011, Clean Energy (Fuel Tax Legislation Amendment) Bill 2011, Clean Energy (Customs Tariff Amendment) Bill 2011, Clean Energy (Excise Tariff Legislation Amendment) Bill 2011, Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Amendment Bill 2011, Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Amendment Bill 2011, Clean Energy (Unit Shortfall Charge—General) Bill 2011, Clean Energy (Unit Issue Charge—Auctions) Bill 2011, Clean Energy (Unit Issue Charge—Fixed Charge) Bill 2011, Clean Energy (International Unit Surrender Charge) Bill 2011, Clean Energy (Charges—Customs) Bill 2011, Clean Energy (Charges—Excise) Bill 2011, Clean Energy Regulator Bill 2011, Climate Change Authority Bill 2011
- MINISTERIAL ARRANGEMENTS
-
QUESTIONS WITHOUT NOTICE
-
Carbon Pricing
(Brandis, Sen George, Wong, Sen Penny) -
Afghanistan
(Brown, Sen Bob, Evans, Sen Christopher) -
Economy
(Singh, Sen Lisa, Evans, Sen Christopher) -
Carbon Pricing
(Ryan, Sen Scott, Wong, Sen Penny) -
Environment
(Waters, Sen Larissa, Conroy, Sen Stephen) -
Superannuation
(Urquhart, Sen Anne, Sherry, Sen Nick) -
Carbon Pricing
(Birmingham, Sen Simon, Wong, Sen Penny) -
Coal Seam Gas
(Moore, Sen Claire, Ludwig, Sen Joe) -
Carbon Pricing
(Boswell, Sen Ronald, Wong, Sen Penny) -
Broadband
(Thistlethwaite, Sen Matt, Conroy, Sen Stephen)
-
Carbon Pricing
- SHADOW MINISTERIAL ARRANGEMENTS
- QUESTIONS WITHOUT NOTICE: ADDITIONAL ANSWERS
- QUESTIONS WITHOUT NOTICE: TAKE NOTE OF ANSWERS
- PETITIONS
- NOTICES
- BUSINESS
- COMMITTEES
- NOTICES
- COMMITTEES
- MATTERS OF PUBLIC IMPORTANCE
- MINISTERIAL STATEMENTS
- DOCUMENTS
- DELEGATION REPORTS
- AUDITOR-GENERAL'S REPORTS
- COMMITTEES
- BILLS
- COMMITTEES
-
BILLS
-
Clean Energy Bill 2011, Clean Energy (Consequential Amendments) Bill 2011, Clean Energy (Income Tax Rates Amendments) Bill 2011, Clean Energy (Household Assistance Amendments) Bill 2011, Clean Energy (Tax Laws Amendments) Bill 2011, Clean Energy (Fuel Tax Legislation Amendment) Bill 2011, Clean Energy (Customs Tariff Amendment) Bill 2011, Clean Energy (Excise Tariff Legislation Amendment) Bill 2011, Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Amendment Bill 2011, Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Amendment Bill 2011, Clean Energy (Unit Shortfall Charge—General) Bill 2011, Clean Energy (Unit Issue Charge—Auctions) Bill 2011, Clean Energy (Unit Issue Charge—Fixed Charge) Bill 2011, Clean Energy (International Unit Surrender Charge) Bill 2011, Clean Energy (Charges—Customs) Bill 2011, Clean Energy (Charges—Excise) Bill 2011, Clean Energy Regulator Bill 2011, Climate Change Authority Bill 2011
-
In Committee
- Moore, Sen Claire
- Cormann, Sen Mathias
- Wong, Sen Penny
- Cormann, Sen Mathias
- Wong, Sen Penny
- Cormann, Sen Mathias
- Thistlethwaite, Sen Matt
- Nash, Sen Fiona
- Wong, Sen Penny
- Nash, Sen Fiona
- Wong, Sen Penny
- Nash, Sen Fiona
- Wong, Sen Penny
- Nash, Sen Fiona
- Wong, Sen Penny
- Nash, Sen Fiona
- Wong, Sen Penny
- Nash, Sen Fiona
- Wong, Sen Penny
- Nash, Sen Fiona
- Wong, Sen Penny
- Nash, Sen Fiona
- Wong, Sen Penny
- Nash, Sen Fiona
- Wong, Sen Penny
- Nash, Sen Fiona
- Wong, Sen Penny
- Nash, Sen Fiona
- Wong, Sen Penny
- Nash, Sen Fiona
- Wong, Sen Penny
- Nash, Sen Fiona
- Wong, Sen Penny
- Nash, Sen Fiona
- Wong, Sen Penny
- Macdonald, Sen Ian
- Nash, Sen Fiona
- Wong, Sen Penny
- Macdonald, Sen Ian
- Wong, Sen Penny
- Xenophon, Sen Nick
- Macdonald, Sen Ian
- Wong, Sen Penny
- Fierravanti-Wells, Sen Concetta
- Wong, Sen Penny
- Singh, Sen Lisa
- Joyce, Sen Barnaby
- Wong, Sen Penny
- Joyce, Sen Barnaby
- Wong, Sen Penny
- Joyce, Sen Barnaby
- Wong, Sen Penny
- Joyce, Sen Barnaby
- Fierravanti-Wells, Sen Concetta
- Wong, Sen Penny
- Fierravanti-Wells, Sen Concetta
- Wong, Sen Penny
- Fierravanti-Wells, Sen Concetta
- Wong, Sen Penny
- Fierravanti-Wells, Sen Concetta
- Wong, Sen Penny
- Division
- Xenophon, Sen Nick
- Wong, Sen Penny
- Joyce, Sen Barnaby
- Wong, Sen Penny
- Joyce, Sen Barnaby
- Wong, Sen Penny
- Joyce, Sen Barnaby
- Wong, Sen Penny
- Joyce, Sen Barnaby
- Wong, Sen Penny
- Joyce, Sen Barnaby
- Wong, Sen Penny
- Milne, Sen Christine
- Xenophon, Sen Nick
- Wong, Sen Penny
- Xenophon, Sen Nick
- Wong, Sen Penny
- Joyce, Sen Barnaby
- Wong, Sen Penny
- Joyce, Sen Barnaby
- Wong, Sen Penny
- Joyce, Sen Barnaby
- Wong, Sen Penny
- Joyce, Sen Barnaby
- Wong, Sen Penny
- Joyce, Sen Barnaby
- Wong, Sen Penny
- Birmingham, Sen Simon
- Wong, Sen Penny
- Birmingham, Sen Simon
- Wong, Sen Penny
- Birmingham, Sen Simon
- Wong, Sen Penny
- Birmingham, Sen Simon
- Wong, Sen Penny
- Milne, Sen Christine
- Joyce, Sen Barnaby
- Wong, Sen Penny
- Birmingham, Sen Simon
- Wong, Sen Penny
- Xenophon, Sen Nick
- Birmingham, Sen Simon
- Xenophon, Sen Nick
- Birmingham, Sen Simon
- Bernardi, Sen Cory
- Division
-
In Committee
-
Clean Energy Bill 2011, Clean Energy (Consequential Amendments) Bill 2011, Clean Energy (Income Tax Rates Amendments) Bill 2011, Clean Energy (Household Assistance Amendments) Bill 2011, Clean Energy (Tax Laws Amendments) Bill 2011, Clean Energy (Fuel Tax Legislation Amendment) Bill 2011, Clean Energy (Customs Tariff Amendment) Bill 2011, Clean Energy (Excise Tariff Legislation Amendment) Bill 2011, Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Amendment Bill 2011, Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Amendment Bill 2011, Clean Energy (Unit Shortfall Charge—General) Bill 2011, Clean Energy (Unit Issue Charge—Auctions) Bill 2011, Clean Energy (Unit Issue Charge—Fixed Charge) Bill 2011, Clean Energy (International Unit Surrender Charge) Bill 2011, Clean Energy (Charges—Customs) Bill 2011, Clean Energy (Charges—Excise) Bill 2011, Clean Energy Regulator Bill 2011, Climate Change Authority Bill 2011
- ADJOURNMENT
- DOCUMENTS
-
QUESTIONS ON NOTICE
-
Broadband, Communications and the Digital Economy: Code of Conduct Investigations (Question No. 1046)
(Abetz, Sen Eric, Conroy, Sen Stephen) -
Broadband, Communications and the Digital Economy (Question No. 1114)
(Humphries, Sen Gary, Conroy, Sen Stephen) -
Climate Change and Energy Efficiency: Staffing (Question No. 1132)
(Humphries, Sen Gary, Wong, Sen Penny) -
Broadband, Communications and the Digital Economy (Question No. 1161)
(Abetz, Sen Eric, Conroy, Sen Stephen) -
Carbon Pricing (Question No. 1219)
(Boswell, Sen Ronald, Wong, Sen Penny) -
Families, Housing, Community Services and Indigenous Affairs (Question No. 1232)
(Rhiannon, Sen Lee, Arbib, Sen Mark) -
Avoidable Blindness Initiative (Question No. 1251)
(Johnston, Sen David, Conroy, Sen Stephen) -
Broadband, Communications and the Digital Economy (Question No. 1253)
(Birmingham, Sen Simon, Conroy, Sen Stephen) -
Australian Communications and Media Authority (Question No. 1254)
(Birmingham, Sen Simon, Conroy, Sen Stephen) -
Australian Communications and Media Authority (Question No, 1256)
(Birmingham, Sen Simon, Conroy, Sen Stephen) -
Broadband, Communications and the Digital Economy (Question No. 1257)
(Birmingham, Sen Simon, Conroy, Sen Stephen) -
Innovation, Industry, Science and Research (Question No. 1259)
(Ryan, Sen Scott, Carr, Sen Kim) -
Broadband, Communications and the Digital Economy (Question No. 1279)
(Abetz, Sen Eric, Conroy, Sen Stephen)
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Broadband, Communications and the Digital Economy: Code of Conduct Investigations (Question No. 1046)
Page: 8324
Superannuation
Senator URQUHART (Tasmania) (14:32): My question is to the Minister representing the Assistant Treasurer and Minister for Financial Services and Superannuation, Senator Sherry. Can the minister inform the Senate how the Gillard government is planning to fund its forward-looking reforms to ensure Australians receive a better retirement income through a higher superannuation guarantee? Can the minister give an assurance that the government's plan is transparent and fully costed?
Senator SHERRY (Tasmania—Minister Assisting on Deregulation and Public Sector Superannuation, Minister for Small Business and Minister Assisting the Minister for Tourism) (14:33): Successive Labor governments over a 20-year period have long recognised that compulsory superannuation was very necessary to strengthen our economy and to boost private retirement savings. We held a view that nine per cent was not enough, and we have announced an increase in the superannuation guarantee from nine to 12 per cent, which is to be phased in gradually over six years. The government have always been very clear about how this would be funded: at least part of the funds from the minerals resource rent tax would pay for this and other very important superannuation reforms. I might point out that a 30-year-old will be able to retire with an extra $108,000 in superannuation.
Until about a week ago, the Liberal-National Party was strongly opposed to compulsory superannuation and increasing it. We heard from Senator Cormann and others that compulsory superannuation would wreck the Australian economy, it would decrease real wages and it would harm small business—very similar to arguments they have advanced with respect to the carbon tax. However, they have now changed their minds. As of Friday, the Liberal Party has changed its mind. Increasing compulsory superannuation is no longer going to wreck the Australian economy, it is no longer going to decrease real wages and it is no longer going to ruin small business. They have decided to support Labor's policy to increase compulsory superannuation. However, the Liberal Party have one major problem: they have no way of paying for it, because it is to be paid for by the minerals resource rent tax. The problem the Liberal Party have is—
Senator Heffernan: Mr President, I rise on a point of order. Minister, do you have to shout?
The PRESIDENT: Senator Heffernan, that is not a point of order.
Senator SHERRY: Having agreed to support Labor's policy of increasing the superannuation guarantee, the Liberal Party have no way to pay for it because it will cost $12.6 billion. (Time expired)
Senator URQUHART (Tasmania) (14:35): Mr President, I ask a supplementary question. Can the minister please outline what the industry position has been on the government's plan to boost the retirement incomes of Australians?
Senator SHERRY (Tasmania—Minister Assisting on Deregulation and Public Sector Superannuation, Minister for Small Business and Minister Assisting the Minister for Tourism) (14:36): As I have outlined, the industry has been consistent over a long, long period of time—for most of the last 20 years—in supporting compulsory superannuation. Apparently this was what convinced a somewhat divided leadership group, according to numerous press reports today. We heard that Mr Robb, the shadow finance minister, has vowed to fight on and is livid that he was not consulted.
Opposition senators interjecting—
Senator CONROY: Well may you laugh, but you still have to find that $70 billion.
Honourable senators interjecting—
The PRESIDENT: Order on both sides! I need to hear Senator Sherry.
Senator SHERRY: Senator Cormann—who is very quiet today, I notice—who was so keen on rolling the shadow Treasurer, Mr Hockey, and taking his job, was himself rolled last week. But of course Mr Robb, who was not consulted, is not a very happy man. He is livid. How can you trust the Liberal Party when their shadow finance minister is determined to reverse this decision. But there is still a risk. It is not just the superannuation— (Time expired)
Senator URQUHART (Tasmania) (14:37): Mr President, I ask a further supplementary question. Can the minister inform the Senate whether the Gillard government has considered any alternative policies to its historic tax and superannuation reforms?
Senator SHERRY (Tasmania—Minister Assisting on Deregulation and Public Sector Superannuation, Minister for Small Business and Minister Assisting the Minister for Tourism) (14:38): There are other measures the Liberal Party will have to consider. We are cutting the tax on 3.2 million Australians' superannuation contribution—the contributions tax. We are cutting tax for small business. All of this is going to be funded, like the increase in the superannuation guarantee, from the mining tax, which the Liberal Party still say no to. What we have today is a Liberal Party 'no' to the mining tax, but they have changed their mind on the super guarantee.
Senator Conroy: 'Yes' to super.
Senator SHERRY: Yes, we got a 'yes' at last. But we got a 'maybe' on the contributions tax cut on superannuation—maybe they will roll over on that one as well. And 'perhaps' the small business tax cuts, which are also paid for by the mining tax, will be the next one—that is a 'perhaps'. So we have got a no, we have got a yes, we have got a maybe and we have got a perhaps. I would like particularly to welcome Senator Sinodinos to the Senate. You have come in at a particularly good time. (Time expired)