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Post by JJJ88 on Oct 23, 2022 4:21:22 GMT 7
Watching the ABC on pay TV this morning, the teasurer said there is going to be a $33B increase to payments in Tuesday's budget including OAP due to rising inflation. He did not mention DSP. Maybe someone has an article to confirm?
Cheers
J
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Post by twentypoints on Oct 23, 2022 9:24:29 GMT 7
Bear ?
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Post by bear on Oct 23, 2022 11:49:12 GMT 7
Pension costs jump $33 billion to cover ‘skyrocketing costs of living’: Chalmers
Higher pension and social service payments will add $33 billion to government spending over the next four years in another pressure point for the federal budget as Treasurer Jim Chalmers warns of structural problems that will keep the nation’s finances in deficit.
A tougher outlook for the economy is a key factor in the spending increase because the government is assuming more people will need assistance, with JobSeeker payments to the unemployed making up one third of the surge.
Treasurer Jim Chalmers is stressing fiscal restraint over spending programs.
Chalmers revealed the figure on Sunday morning in a series of interviews that promised a “responsible” budget that would have to avoid major new spending programs when inflation is expected to stay higher for longer than previously forecast.
But the increase in social services outlays cannot be avoided because the age pension, JobSeeker and most other forms of income support are indexed to consumer prices and must rise to help recipients keep up with household costs.
“One of the most important elements of our budget is the $33 billion in extra funding for pensions and payments,” Chalmers told the ABC.
“That is partly a consequence of the indexation which is there to try and keep up with inflation, particularly when it’s high, as it is right now.
In an exclusive interview with Nine Political Editor Charles Croucher, Treasurer Jim Chalmers previews what will be included in Tuesday's budget.
“Of that $33 billion in extra funding for pensions and payments, about a third of that is the age pension. Another third of that is JobSeeker.
“And we know that people are still doing it tough. But one of the pressures on the budget is making sure we can find room for that indexation so that people who are on pensions and payments get a little bit of help twice a year to try and keep up with these skyrocketing costs of living.”
Chalmers named inflation as the “primary influence” on the budget in an interview with this masthead in recent days, revealing updated Treasury forecasts that showed the consumer price index would stay higher for longer than previously thought.
Chalmers indicated he did not expect wages to rise in real terms until sometime in 2024.
“Wages growth, which is beginning to happen in our economy, will cross over with inflation some time, we think, the year after next,” he told the ABC.
In another move to deal with higher inflation, the government will set aside $560 million for housing, domestic violence and Indigenous services so community organisations can apply for funding to deal with higher costs.
The funding pool will be available for Community Sector Organisations but will not be paid automatically to those already receiving money, forcing the service providers to apply for a share of the funds.
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Post by itsmylife08 on Oct 23, 2022 15:54:28 GMT 7
The article mentioned pensions J if the OAP gets an increase so do we on the DSP, well that is the case usually  Cheers Itsa |
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Post by bunyip on Oct 24, 2022 7:13:39 GMT 7
Let me guess, taxcuts and handouts to the well off and pensioners get a fig fat zero. LAbor and liberal are both the same, they only care about the well off, l hate it when the polticans adjust pensions for infaltion and then say " arent we generous we are giving pensioners an increase, when its not a real increase at all
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Post by judy on Oct 24, 2022 11:50:51 GMT 7
Let me guess, taxcuts and handouts to the well off and pensioners get a fig fat zero. LAbor and liberal are both the same, they only care about the well off, l hate it when the polticans adjust pensions for infaltion and then say " arent we generous we are giving pensioners an increase, when its not a real increase at all good thing I got my name taken off the electoral List - Now they can not touch me anymore, Like u say "both the same". Ablersneezy wont be Easy !!! |
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Post by mspurple on Oct 26, 2022 5:44:24 GMT 7
Let me guess, taxcuts and handouts to the well off and pensioners get a fig fat zero. LAbor and liberal are both the same, they only care about the well off, l hate it when the polticans adjust pensions for infaltion and then say " arent we generous we are giving pensioners an increase, when its not a real increase at all good thing I got my name taken off the electoral List - Now they can not touch me anymore, Like u say "both the same". Ablersneezy wont be Easy !!! How do you get your name taken off the electoral list? I wish mine had never gone on it |
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Post by JJJ88 on Oct 26, 2022 7:48:11 GMT 7
good thing I got my name taken off the electoral List - Now they can not touch me anymore, Like u say "both the same". Ablersneezy wont be Easy !!! How do you get your name taken off the electoral list? I wish mine had never gone on it If your overseas permanently, depending on the circumstances, you can fill out a form to remove your name from the roll online from the AEC website. Or in most instances when residing overseas you would be exempt as far as I know. If your in Australia and already on the electoral roll you still have to vote otherwise you get a fine. I took my name off the roll when I went overseas back in 2016/2017. Tried to get back on it for the last Federal election because you are able to vote at the embassy here but from memory according to the website, if you have been abroad for a certain amount of years your name gets automatically removed from the AEC roll. Cheers J |
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Post by bear on Oct 26, 2022 9:05:06 GMT 7
Has anyone seen a breakdown of the $33bn? As in how much the different payment types are going to receive and when they are rolling out! Cheers 🐻
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Post by mikey on Oct 26, 2022 12:52:52 GMT 7
Has anyone seen a breakdown of the $33bn? As in how much the different payment types are going to receive and when they are rolling out! Cheers 🐻 Bit of sleight of hand here, but since its pegged to CPI and we are getting smashed in CPI (inflation) they have to give us a 7% increase next year, across all payments hence $33Billion in March. So doing what they have to, claiming its being generous. But maybe $60 increase this time. Then they can say how they gave us all a $90 increase (including Sept's) in the first year of government once inflation settles down. If you add that up, it's $2000+ a year. They will be singing it their change, but neither side can avoid/change it without losing a big chunk of voters on either side. |
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Post by JJJ88 on Oct 27, 2022 11:46:32 GMT 7
Has anyone seen a breakdown of the $33bn? As in how much the different payment types are going to receive and when they are rolling out! Cheers 🐻 Bit of sleight of hand here, but since its pegged to CPI and we are getting smashed in CPI (inflation) they have to give us a 7% increase next year, across all payments hence $33Billion in March. So doing what they have to, claiming its being generous. But maybe $60 increase this time. Then they can say how they gave us all a $90 increase (including Sept's) in the first year of government once inflation settles down. If you add that up, it's $2000+ a year. They will be singing it their change, but neither side can avoid/change it without losing a big chunk of voters on either side. Nice one Mikey |
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Post by itsmylife08 on Oct 27, 2022 20:42:09 GMT 7
I think Mikey is on the money, don't hold your breath for anything just now, it will arrive in march next year as always and they'll tell us all how good they've been to us, yawn boring. Cheers Itsa  |
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Post by mspurple on Oct 29, 2022 3:16:39 GMT 7
How do you get your name taken off the electoral list? I wish mine had never gone on it If your overseas permanently, depending on the circumstances, you can fill out a form to remove your name from the roll online from the AEC website. Or in most instances when residing overseas you would be exempt as far as I know. If your in Australia and already on the electoral roll you still have to vote otherwise you get a fine. I took my name off the roll when I went overseas back in 2016/2017. Tried to get back on it for the last Federal election because you are able to vote at the embassy here but from memory according to the website, if you have been abroad for a certain amount of years your name gets automatically removed from the AEC roll. Cheers J Thanks. I am not overseas so I guess my name stays  |
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Post by bear on Oct 29, 2022 3:52:33 GMT 7
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