Senator SHERRY (Tasmania—Minister Assisting on Deregulation and Public Sector Superannuation, Minister for Small Business and Minister Assisting the Minister for Tourism) (14:59): Thank you, Senator Pratt. I touched yesterday on some of the tax cuts and the benefits that will flow from the $11 billion mining tax that was tabled in the House of Representatives yesterday. Of course, we know it is a mining tax that the mining companies want to pay and that those opposite, the Liberal and National parties, want to give back to the mining sector. Let me outline in greater detail the benefits that flow from the mining tax in respect of superannuation. There are quite a number of benefits. Firstly, we propose to increase the superannuation guarantee from nine to 12 per cent. Secondly, we intend to cut the contributions tax paid by over 3½ million low-income-earning Australians. Currently, many low- and middle-income Australians pay a 15 per cent contributions— Opposition senators interjecting— The PRESIDENT: Senator Sherry, just resume your seat for a moment. It might be easier. The time to debate this is after question time, which is not too far off. I can give you that advice. Senator Sherry, continue. Senator SHERRY: Thank you—and we look forward to that debate. Currently, 3½ million Australians pay a contributions tax of 15 per cent on their superannuation, which is either equal to or higher than their marginal income tax. Interestingly, of the 3½ million Australians who pay this contributions tax, just over two million are women. It is highly regressive for over two million low-income women to be paying the 15 per cent contributions tax. We propose to effectively scrap that tax. We intend to implement further reforms. We intend to allow those Australians who make a decision over the age of 70 to remain in the workforce to continue receiving their superannuation guarantee. That is another important reform. Our reforms in total will deliver some $830 million in additional benefits to Australian workers' superannuation. To give a specific example— (Time expired)