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Coalition revises superannuation package and dumps lifetime cap – politics live Coalition revises superannuation package and dumps lifetime cap – politics live
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Paul Karp
The employment minister, Michaelia Cash, the small business minister, Michael McCormack, and the transport minister, Darren Chester, have launched a report about the effect of the road safety remuneration tribunal.
That tribunal set minimum rates that truck owner-drivers had to charge to ensure they weren’t lowly paid and incentivised to skip breaks. It was abolished in April over concerns it would put the drivers out of work, because they could not compete with employees.
The report claims the order – which was only in effect for two weeks and was never enforced – caused “a devastating personal and economic” impact on owner-drivers. It cited submissions that in at least two instances people reported owner-drivers they knew had killed themselves “at least in part” due to the payments order.
Cash said the report included “evidence from the owner-drivers themselves that the work was drying up, there would literally be nothing left for them on the day the order came into force”.
This report now confirms in black and white that is exactly what occurred – lives were devastated.
Asked how the report could claim hardship was due to the order rather than conditions in the industry, including low pay before the order, Cash said that owner-drivers reported they were “already being told they would not have jobs”.
She denied that this constituted anecdotal evidence.
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Bowen is asked about Labor banking the Coalition’s $3bn superannuation savings before the election and then revealing the full detail of their package, which was worth $4.5bn savings after the election.
[Before the election] I said, the government will drop the $500,000 cap after the election. We are prepared to find ways of making that money. I believe we’ve been proven right in this debate at every turn, every step of the way in the public discussion. The government has lurched from policy to policy, from crisis to crisis on this.
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Chris Bowen has started his press conference criticising Scott Morrison. But he says he will take up the government’s offer of a briefing.
A few weeks ago Bill Shorten, Katy and I outlined a better plan for superannuation, a constructive plan to help the government through their mess, drop the retrospective cap, reduce the contributions for threshold tax for $200,000, the catch-up measure and harmonising contribution rules between 65 and74. The government said that we had it wrong. Scott Morrison, Kelly O’Dwyer said we didn’t understand superannuation by dropping those measures. Today, they have dropped one of the measures themselves.
Bowen and Katy Gallagher, the financial services minister, want to go through the fine detail, given the Coalition asked Labor to tick off the budget bill sight unseen, only to find errors and other unexpected measures.
Bowen:
The Labor party has led this debate. We have remained consistent all the way through. This is the latest backflip on superannuation from this treasurer who is simply not up to the job. If the treasurer is consistent with policy making, if he is consistent with his objectives, you will get consistent policy ... The Labor party has shown consistently that we are bipartisan in the national interest where we can.
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@murpharoo vegemite, avocado and hommus@murpharoo vegemite, avocado and hommus
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@murpharoo Marriage equality, marriage equality, a fountain of wine or chocolate@murpharoo Marriage equality, marriage equality, a fountain of wine or chocolate
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@murpharoo No more racism, heaps more tolerance and care and support for the disadvantaged....I'm under no illusions that it's even possible@murpharoo No more racism, heaps more tolerance and care and support for the disadvantaged....I'm under no illusions that it's even possible
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@murpharoo Equality in health and education for all children; an end to racism and bigotry; a Parliament House built out of lamingtons.@murpharoo Equality in health and education for all children; an end to racism and bigotry; a Parliament House built out of lamingtons.
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@murpharoo 1. A different national anthem. 2. A choir of liberated greyhounds barking it in unison. 3. That's basically it.@murpharoo 1. A different national anthem. 2. A choir of liberated greyhounds barking it in unison. 3. That's basically it.
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Further to Morrison’s trifecta of Australian dreams, we have had many entries from Twitter.Further to Morrison’s trifecta of Australian dreams, we have had many entries from Twitter.
1. Turning up to school naked. 2. Being chased by wolves. 3. I'm dating Rebecca Gibney and my teeth fall out. https://t.co/Qi0Ku7yv5g1. Turning up to school naked. 2. Being chased by wolves. 3. I'm dating Rebecca Gibney and my teeth fall out. https://t.co/Qi0Ku7yv5g
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The Institute of Public Affairs is not happy about where the superannuation package landed. Brett Hogan, the director of research at the Institute of Public Affairs:The Institute of Public Affairs is not happy about where the superannuation package landed. Brett Hogan, the director of research at the Institute of Public Affairs:
The Turnbull government should be congratulated for dumping its retrospective and unworkable $500,000 lifetime non-concessional contributions cap.The Turnbull government should be congratulated for dumping its retrospective and unworkable $500,000 lifetime non-concessional contributions cap.
However, limits on what can be transferred into a retirement account remain, as does the proposed objective that superannuation exists only to ‘substitute or supplement the age pension’.However, limits on what can be transferred into a retirement account remain, as does the proposed objective that superannuation exists only to ‘substitute or supplement the age pension’.
Overall, the Turnbull government’s superannuation policy remains ill thought-out and built on a platform of higher taxes.”Overall, the Turnbull government’s superannuation policy remains ill thought-out and built on a platform of higher taxes.”
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The debate in Australia today. Is she:The debate in Australia today. Is she:
Bad Pauline.Bad Pauline.
Good Pauline.Good Pauline.
Mike Bowers asks, you decide.Mike Bowers asks, you decide.
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Knowing me, knowing you. Aha.Knowing me, knowing you. Aha.
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Scott Morrison done good on superannuation.Scott Morrison done good on superannuation.
We are inundated with many suggestions for the trifecta of Australian dreams which I will bring you in a minute. But first a quick comment about superannuation.We are inundated with many suggestions for the trifecta of Australian dreams which I will bring you in a minute. But first a quick comment about superannuation.
The need to rein in the Howard governments overly generous superannuation concessions has been long and loudly noted by economists for many years. Scott Morrison and Malcolm Turnbull’s willingness to grab this bull by the horns should be congratulated. Labor’s superannuation package, which was released by Chris Bowen a fair while before the Coalition’s package, should also be congratulated. Bowen essentially gave Morrison cover to work up superannuation reforms which could make a difference to the budget and get rid of a significant tax shelter. As Morrison said, people were stacking money into balances up to $100m paying no tax. Larf!The need to rein in the Howard governments overly generous superannuation concessions has been long and loudly noted by economists for many years. Scott Morrison and Malcolm Turnbull’s willingness to grab this bull by the horns should be congratulated. Labor’s superannuation package, which was released by Chris Bowen a fair while before the Coalition’s package, should also be congratulated. Bowen essentially gave Morrison cover to work up superannuation reforms which could make a difference to the budget and get rid of a significant tax shelter. As Morrison said, people were stacking money into balances up to $100m paying no tax. Larf!
Now you could say, Morrison should have run it past his own backbench before the budget to make for a neater policy package. It certainly would have saved a bit of angst and removed a stick for Eric Abetz. But hey, the broader point remains. If the generous concessions for largely high-income earners are wound back for the good of the budget and the savings figures are correct, Morrison and Turnbull done good. (All nuclear explosions kept to the comments thread, please.)Now you could say, Morrison should have run it past his own backbench before the budget to make for a neater policy package. It certainly would have saved a bit of angst and removed a stick for Eric Abetz. But hey, the broader point remains. If the generous concessions for largely high-income earners are wound back for the good of the budget and the savings figures are correct, Morrison and Turnbull done good. (All nuclear explosions kept to the comments thread, please.)
Bowen will be out at midday. Morrison says he has spoken to him. We await with interest but could there be two policy reform handshakes in one week?Bowen will be out at midday. Morrison says he has spoken to him. We await with interest but could there be two policy reform handshakes in one week?
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Lastly – I promise – George Christensen gives the prime minister five stars for performance. Malcolm the Movie has exceeded all expectations. He has managed to juggle the party room and come to compromises.Lastly – I promise – George Christensen gives the prime minister five stars for performance. Malcolm the Movie has exceeded all expectations. He has managed to juggle the party room and come to compromises.
He is doing a very good job. When we see decisions like this on superannuation, obviously as PM he has been able to steer that conversation to a landing point which both moderates and conservatives are happy with.He is doing a very good job. When we see decisions like this on superannuation, obviously as PM he has been able to steer that conversation to a landing point which both moderates and conservatives are happy with.
Has the PM exceeded your expectations?Has the PM exceeded your expectations?
I think he has. He has been willing to listen to both sides of the fence, not just Nationals and Liberals but conservatives and moderates or progressives within the Liberal-National Coalition and he is doing a very good job at that. I give him full marks.I think he has. He has been willing to listen to both sides of the fence, not just Nationals and Liberals but conservatives and moderates or progressives within the Liberal-National Coalition and he is doing a very good job at that. I give him full marks.
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George Christensen's vote on marriage will depend on his electoral voteGeorge Christensen's vote on marriage will depend on his electoral vote
Conservatives are continuing to issue fine print on the outcome of the plebiscite in preparation of a potential yes to marriage equality.Conservatives are continuing to issue fine print on the outcome of the plebiscite in preparation of a potential yes to marriage equality.
Q: If a plebiscite does take place and Australia votes to change the Marriage Act, will you yourself support that in parliament?Q: If a plebiscite does take place and Australia votes to change the Marriage Act, will you yourself support that in parliament?
I will vote how my electorate votes. That is how I will vote. If my electorate votes for same-sex marriage I will cast my vote for it. If my electorate votes against it – and if every MP voted according to the will of the electorate – we would have the national mood reflected in this place.I will vote how my electorate votes. That is how I will vote. If my electorate votes for same-sex marriage I will cast my vote for it. If my electorate votes against it – and if every MP voted according to the will of the electorate – we would have the national mood reflected in this place.
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Christensen: restrict immigration from countries with high levels of violent extremismChristensen: restrict immigration from countries with high levels of violent extremism
George Christensen is also asked about Pauline Hanson’s views on banning Muslim immigration. He does not think Australia is being swamped by Muslims.George Christensen is also asked about Pauline Hanson’s views on banning Muslim immigration. He does not think Australia is being swamped by Muslims.
For instance, Pauline Hanson might say ban all Muslims from immigrating into – or migrating to Australia. I would say that it probably reflects the concerns of people regarding national security, but do I agree with that? No, I think a more nuanced policy would be to restrict immigration from countries where there is a high level of violent extremism. That would be putting the precautionary principle into place when it comes to national security and using our immigration policy to do that.For instance, Pauline Hanson might say ban all Muslims from immigrating into – or migrating to Australia. I would say that it probably reflects the concerns of people regarding national security, but do I agree with that? No, I think a more nuanced policy would be to restrict immigration from countries where there is a high level of violent extremism. That would be putting the precautionary principle into place when it comes to national security and using our immigration policy to do that.
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Christensen says he told the One Nation senator Malcolm Roberts to keep speaking the truth on climate change.Christensen says he told the One Nation senator Malcolm Roberts to keep speaking the truth on climate change.
I told him keep speaking the truth to the climate mafia. Obviously he has views on the idea of catastrophic man-made climate change being bogus, just like I do. We were on the same page when it comes to that.I told him keep speaking the truth to the climate mafia. Obviously he has views on the idea of catastrophic man-made climate change being bogus, just like I do. We were on the same page when it comes to that.
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