Senator ANNING (Queensland) (14:37): My question is for the Minister representing the Treasurer, Minister Cormann. First, Minister Cormann, thank you for explaining the fact that the franking credits have already been funded by the very people who are receiving the benefits. But my question, Minister, is: it has long been recognised that policies around franking credits have the potential to negatively impact many vulnerable Australians. Minister, can you please explain the vital importance of franking credits to the Australian economy and retirees?