Senator GALLAGHER (Australian Capital Territory—Minister for the Public Service, Minister for Finance, Minister for Women, Manager of Government Business in the Senate and Vice-President of the Executive Council) (12:21): The government will not be supporting the suspension or the motion. I do find it rather amusing that Senator Cash gives such a passionate statement about protecting people's super when those opposite oppose super. They oppose superannuation every time. They've voted against superannuation from its inception to now, when they continue to look at ways to undermine it because they cannot stand working people having access to capital to fund their retirement. That's ultimately what this is about. You cannot bear it. You can't bear the size of the superannuation industry. You can't bear that industry funds actually have resources in this country to invest on behalf of their members. Nobody thinks you're serious, Senator Cash—that you have some concern about people's superannuation. It's not about that at all. All of this term, you have sought to undermine every effort we have taken to provide cost-of-living support and help to Australian families. You walk in here, at the end of a sitting fortnight, to pull a stunt that you argue is trying to protect people's superannuation. It is Labor that built superannuation, it is Labor that has ensured that it works in the interests of working people and it is only Labor that will continue to do that. I accept that you, in seeking to discharge this, do not agree with the position the government has put in the legislation. I accept that you don't support a very modest change that allows high-balance superannuation— Opposition senators interjecting— The PRESIDENT: Order! This is a five-minute contribution, but I've had to call order at least half a dozen times. You are being disrespectful to me. The minister will be heard in silence. Otherwise, you can leave the chamber. Senator GALLAGHER: I must say, the louder they shout the more I feel like my points are being well made. You make a good point; the volume goes up. Senator McGrath interjecting— The PRESIDENT: Senator McGrath, I've just called order. Senator GALLAGHER: Those opposite—let's just be clear—the government accepts that you don't support lowering the concessional tax rate for those with balances higher than $3 million in their superannuation account. I would say to you that the average super balance is in the order of $270,000 at retirement age. The average working Australian retires with about $270,000. Senator Hume: Is it indexed? Senator Henderson: It's unrealised. The PRESIDENT: Senator Hume and Senator Henderson, I've called you to order. Senator GALLAGHER: The average working woman, of course, retires with a lot less than that. This is about lowering the concessional rate. It's still very concessional, in the tax system, but just lowering it for high-balance superannuation accounts. I accept that you don't agree with it, but this stunt today, seriously, under the guise that you're trying to protect people's superannuation balances at the same time that you have Senator Bragg there grinning at the thought of dismantling the superannuation system—nothing gives him greater joy than the idea that he might be able to systematically undermine superannuation in this country. They're quite open about it. We have conversations about how the Liberal Party doesn't support superannuation. I think you should just say it. You don't support super, you've never supported super and you will never support super. But the thing that you didn't support, the superannuation guarantee going up for working Australians, you wanted to keep at 9½ per cent. You tried to undermine it there. You don't like the fact that it's getting to 12 per cent. Yet you'll fight tooth and nail to stop this legislation passing, about lowering a concessional rate slightly for balances over $3 million. Let's just be clear what's happening here. Whilst you're trying to get rid of it for everyone else and dismantle it and lower the standards and ensure that more people are pushed onto the age pension than need to be, instead of living a dignified retirement, you will go into bat to make sure that those who are fortunate enough to have more than $3 million get a slightly lower concessional tax rate. That is what you are saying here. We don't agree. We don't agree with the suspension, we don't agree with your attacks on super and we will always stand against it.