The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
Picture of Wayne Swan

Wayne Swan

Deputy Prime Minister and Treasurer

3 December 2007 - 27 June 2013

18 May 2013

Tony Abbott's superannuation cuts to hit more than 1.4 million Queenslanders

Opposition Leader Tony Abbott has committed to mindlessly rip away superannuation from the pockets of working people in Queensland.

Mr Abbott's commitment to axe the legislated increase in the superannuation guarantee from 9 to 12 per cent will slug 1.42 million Queenslanders.

By having the gall to smash retirement incomes, Mr Abbott gives a sneak peak of the vicious cuts to the bone he has in store for people everywhere in Queensland.

Queenslanders know better than anyone what comes with the kind of Commission of Audit that Mr Abbott has promised if he's elected.   Since Campbell Newman's Commission of Audit in Queensland, we've seen health and education services slashed and thousands of health workers, including doctors and nurses, lose their jobs.

Mr Abbott has said "Compulsory superannuation is one of the biggest con jobs ever foisted by government on the Australian people", so it is little wonder that he's made this appalling commitment.

Mr Abbott  has never voted for an increase to the Super Guarantee, so the suggestion that he will do so in two years' time is as deceptive as it is fanciful.

Make no mistake: the Super Guarantee will never reach 12 per cent under an Abbott Government.

Tony Abbott's attack on the superannuation guarantee means that a 30-year-old Queenslander on average wages will be $127,000 worse off when they retire.

The people of Queensland deserve better than these sort of savage cuts from Tony Abbott.