4.7 million people in Australia who are struggling with a cost of living will be eligible for a cash assistance.
According to Social Services Minister Amanda Rishworth, the indexation of welfare payments will begin on September 20, which will result in the largest increase in more than 30 years and the second-largest increase in 12 years. This will be the beginning of the largest increase in more than 30 years.
She made the statement on Monday that “we want to ensure that Australia has a strong social security safety nett to safeguard our most disadvantaged citizens.”
“As a government, our guiding values are to ensure that no one is left behind and that no one is kept back…
Those who receive government assistance will have an easier time keeping up with the cost of living thanks to this indexation hike.
Increases of $38.90 and $58.80 will be applied to the biweekly rates, respectively, for single people and couples, respectively.
A pension of $1026.50 will be given to single individuals every two weeks, while a pension of $773.80 will be given to each member of a pensioner couple every week, for a total of $1547.60 per couple.
A review of the JobSeeker payment will take place in May of next year, according to Minister of Labour Clare O’Neil, who defended her administration against charges that the increases are not high enough. She said that the review will take place.
According to Barnaby Joyce, a former leader of the Nationals, the fuel excise benefit will expire at the end of this month, which will result in an increase in the pressures associated with the cost of living.
According to what he shared with Seven on Monday, “Real pressures are going on individuals, and unless you want them to live in poverty, they need to be supported.”
Beneficiaries of JobSeeker, Parenting Pay, ABSTUDY, and Rent Assistance will each receive an increase in their benefits.
Both Single and JobSeeker for Singles Without Children will experience an increase of $25.70 each fortnight, bringing their respective totals to $677.20 and $927.40 respectively.
Those who get the Joint JobSeeker Benefit and the Parenting Benefit will notice an increase in their payments of $23.40 per pay period, bringing the total amount to $616.60.
As a result of an increase in the Consumer Price Index that was greater than the increase in the Pensioner and Beneficiary Living Cost Index, pensions were raised.