There are many sentiments in the Minister for Women’s speech today that the Coalition supports because the pursuit of gender equality is an important national effort.

A number of the measures announced require scrutiny – especially those yet to be funded by the Government.

Closing the gender pay gap and superannuation gap are things the Coalition believes in. Far too many Australian women are being left with superannuation balances in retirement that are far too small and addressing that is an important part of ensuring the economic security of Australian women.

In line with this commitment to women’s economic security, the Coalition supports women’s economic participation and the principle of super on government-funded paid parental leave.

We will work with the Government on its proposal, but this commitment made in good faith is not a blank cheque.

The Coalition has a strong record supporting government funded paid parental leave and it is important to note the Labor government is 14 years late on this policy. The Coalition’s paid parental leave policy taken to the 2010 and 2013 federal election campaigns included providing superannuation in the Commonwealth’s paid parental leave scheme, only to be opposed by Labor and the Greens.

The Coalition extended the PPL scheme when we were in government and are working to improve the government’s current proposal to extend its recent extension to 26 weeks.

When we were in government, the Coalition put in place policies that boosted women’s workforce participation to record highs, empowered more women to run their own businesses, and reduced the gender pay gap.

The Coalition will examine the details of the government’s proposal and on that basis, the Finance Minister should be up front with the costs. Conservative estimates are that this will cost almost a billion dollars over the forward estimates, with a potential medium-term cost of over three billion. The Government must release the numbers.

For this policy to be sustainable and fair, we will need to ensure support is targeted and goes to those who need it, not people who already have high balances.

While measures to address the gender superannuation gap are welcome, this is a long-term policy measure. This won’t help young families with the cost of living today and doesn’t address paying down debt or reducing inflation.

Superannuation is important but increasing home ownership is critical to boost the economic security of women. That is why we strongly believe the Government should allow Australians to use their superannuation to draw down on a deposit to own their own home. Home ownership is the best indicator of quality of life in retirement for women.

[ENDS]