"Stability, confidence and security" was the theme of Prime Minister Anthony Albanese's speech to the National Press Club on Wednesday, as he attempted to stitch together his agenda for 2023 into one grand, cohesive plan.
We need AUKUS for Australia's security, and to boost local manufacturing, which is why we need the National Reconstruction Fund, and more skills training, which is also essential for building clean energy infrastructure, which relies on the Safeguards Mechanism changes, which is needed to achieve the nation's climate targets, which will enhance our international reputation and strengthen all-important alliances.
It all fits together. Part of a carefully calibrated plan. That was the message, anyway.
But the plan isn't on entirely stable ground yet. Much of it relies on parliamentary support, which is still the subject of negotiation with the Greens (the Coalition having dealt themselves out).
And then there are puzzle pieces still being sized up by the government itself. The big one floated this week: reining in superannuation tax breaks at the top.
No final decisions have been made, we're told, but those with multi-million-dollar balances should be nervous as the government searches for ways to fix the budget and fund its plans.
Top 1 per cent in government's sights
At the Press Club, the Prime Minister swung in behind the Treasurer on the need for superannuation reform. Jim Chalmers is not being left to fly this kite on his own, as largely happened with the Stage 3 tax cut debate before the October budget.
Albanese is in lock step with Chalmers. They want to define the purpose of superannuation as, among other things, being both "sustainable" and "equitable". And both are assuring those with an "average" super balance of $150,000, they have nothing to worry about.
"There's nothing that impacts the sustainability of the system from punters out there who've got $150,000 in their accounts," Albanese said. "That's not an issue at all."
That "average" includes young workers and may not be the most useful figure in this debate. But Chalmers has a more politically persuasive set of figures that give a strong hint as to where he's heading.
"For less than 1 per cent of people in the system, they've got balances higher than $3 million," the Treasurer told Radio National on Wednesday. "The average amongst that group is $5.8 million and they have access to a whole bunch of tax concessions."
Those tax concessions for the top 1 per cent are now clearly in the government's sights.
Chalmers is making the case for action based on a forecast that superannuation tax breaks will cost the budget more than the age pension by 2050. He's "not convinced" that will be sustainable. Treasurer-speak for "we simply can't afford it".
By contrast, in the lead up to his first budget less than four months ago, the Treasurer highlighted the "big five" areas that were contributing to a structural deficit as far as the eye could see: "Health, the NDIS, aged care, defence, and the rising cost of servicing Commonwealth debt." Superannuation was not on the list.
How do you define 'big'?
The "big five" haven't gone away. They continue to put enormous strain on the bottom line.
But according to Chalmers, the "big five" involve "a combination of desirable spending and unavoidable spending". In other words, not much can be done to rein them in. Efficiencies may be found, targeted areas may be trimmed, but don't expect Labor to start hacking into defence, aged care, health, or the NDIS.
Superannuation, however, falls into a different category to the "big five". The growing cost of these tax breaks is not desirable nor, apparently, unavoidable. This is a cost that can be avoided, if the Government is prepared for a fight.
Albanese has made a virtue of sticking to his election promises. It was the main reason he shut down the prospect of adjusting the Stage 3 tax cuts on the eve of the October budget.
On superannuation, he's giving himself wiggle room. "We said we did not intend to make big changes to super and we won't," he said on Wednesday. How you define "big" depends on your perspective.
But some of his language during the campaign didn't carry any such qualification. "We've said we have no intention to make any super changes," Albanese told reporters in early May.
The Opposition is already limbering up for a "broken promise" and "big new tax" attack on any superannuation changes (ignoring the lack of a mandate for its own superannuation changes back in 2016). Defending tax breaks for super balances of more than $3 million will be a greater challenge for the Coalition, if that's where the government lands.
For those approaching retirement and those already living off their superannuation, the speculation underway will be unsettling. The Prime Minister and Treasurer have sought to steer the conversation and give some assurance "average" balances aren't in their sights, but until they settle on a policy, many will be nervous.
"Stability, confidence and security" is a good theme for a speech. It's also what most want for their retirement savings, too.
David Speers is the host of Insiders, which airs on ABC TV at 9am on Sunday or on iview, and host of the Back to You Podcast, out Fridays.