02 June 2021

Australians expect their Parliament to work together in their interests. I’m imploring the Government to take that approach with its Your Future, Your Super legislation.

There is a broad consensus across the Parliament, including Labor, that superannuation funds must be held to a better standard in terms of their performance.

Labor is circulating amendments today that remove the obnoxious elements of the Bill and reflect the Parliament’s will to bring about sensible super reforms.

We can pass a Bill today that would send a powerful message to super fund members that their money is in the best possible hands.

Instead, the Government is putting politics above practical solutions by persisting with its plans to give the Treasurer control over private sector investments.

It is choosing to pick a fight with the entire crossbench, including Bob Katter and Craig Kelly, rather than delivering positive outcomes for working families.

Any Liberal who votes for the Bill in its current form must explain how powers that give politicians the final say over private sector investment decisions are consistent with their basic values.

They must explain which investments they expect the Treasurer to cancel, not just today but for future Governments.

And they must explain how making Josh Frydenberg, and his trillion-dollar record on debt, the trustee-in-chief of Australia’s super funds is going to make members better off in retirement.