Post by bear on Aug 3, 2022 6:43:37 GMT 7
I was a banker, now I’m on welfare - I had no idea how hard it would be
I am 58 years old with more than 33 years in the workforce, most of it in banking where I worked as a lender and business banker. Until I lost my job in 2018, I also worked in retail.
I have lived experience of managing on income support: I am now on a disability pension, though I was previously on Jobseeker (then known as Newstart). I was not unemployed by choice.
In 2006, I was involved in a pedestrian accident, when I was struck by a car. It left me with ongoing pain, and I have suffered from other complex medical issues since. I managed to return to work but my conditions progressively worsened. I experienced PTSD and anxiety.
Peter Sutton worked in banking for decades before he was hit by a motor vehicle and ended up on the disability support pension.
While on Newstart, I felt shame and humiliation. I became socially isolated and unable to afford basic necessities. My hot water service broke down, and I couldn’t repair it.
The latest inflation figures reveal an annual rate of 6.1 per cent, the fastest rise in 21 years. More unsettling is the non-discretionary rate, composed of items which are essential. That rate is 8 per cent.
All of us are impacted by rising prices, but the most vulnerable are those receiving income support: aged and disability pensioners and those receiving Jobseeker or Youth Allowance payments. The maximum pension is $987.60 per fortnight. The maximum rate of Jobseeker is $642.70 per fortnight or for those over 60 it is $691. As prices soar, recipients of these payments fall deeper and deeper into poverty.
Work provides us all with mental and intellectual stimulation, a sense of purpose, social engagement and self-esteem. Unemployment is something few would choose, yet the jobless are often demonised. There are many reasons why people can’t work. They can be accident victims like myself, have developed conditions such as diabetes and arthritis. Many jobseekers are women fleeing domestic violence or abuse. Others experience relationship breakdown after years of raising children.
Or they could be the victims of ageism. A senior manager once told me, “If I had my way, I would terminate everyone over 50 and replace [them] with young fit casuals.”
The largest cohort on Jobseeker is those aged over 50 years. Many of them are older people waiting for the pension, with eligibility now at age 67. Many others have an underlying injury, illness or health condition. About 40 per cent of those on Jobseeker have some form of medical condition. The criteria for the disability support pension has seen many excluded.
As someone who has spent most of his life working full-time and paying taxes, I’m aware that it’s hard for people with a regular income to understand what it’s like to survive on a shoestring budget. Living on Jobseeker involves hard choices. These are between healthcare or food, shelter or utilities, and other fundamentals. It’s not enough to assist people to find employment. A hungry or unwell applicant will not perform well at an interview, or undertaking an aptitude test. Most recruiters now use online testing for reasoning, problem-solving and basic literacy and numeracy. Transport fares or running a vehicle is a huge impost.
Some people argue if Jobseeker increases there will be a disincentive for people to seek employment. This is a nonsensical view. The current maximum rate is about 40 per cent of the minimum wage. It is below the two most widely used poverty lines. Even if Jobseeker were doubled it would still be well below the minimum wage.
We are a wealthy nation, and the burden of economic repair should not be carried by the lowest income households in our country. It makes no sense on moral, ethical or humanitarian grounds. It also makes no economic sense.
Increasing Jobseeker will improve the quality of life of recipients in that they would be able to buy food, including fresh fruit and vegetables, boosting sales for Australian businesses and farmers. By contrast, higher income earners receiving the tax cuts set to go ahead in 2024 are likely to spend more of that on discretionary goods, such as cars, electronics and higher-end merchandise. As we do not make those items here, the winners will be the shareholders in Tokyo, Seoul, Shanghai, New York and London.
If that money was redirected to those on income support, more of that money would remain here. The evidence was clearly demonstrated during COVID when Jobseeker and Youth Allowance were temporarily boosted.
Prime Minister Anthony Albanese told us the new Labor government would not leave anyone behind, yet he and ministers have indicated that Jobseeker will not be increased or reviewed in the first budget. As the cost of just about everything rises, how are those struggling not being left behind?
For the unemployed, every dollar counts, and any rise is welcome. But to enable the impoverished to live with dignity, the Jobseeker payment should be increased to about $80 per day.
www.theage.com.au/national/i-was-a-banker-now-i-m-on-welfare-i-had-no-idea-how-hard-it-would-be-20220729-p5b5qc.html?fbclid=IwAR1kBAJ4Pf2K_ZuEAb4xQBgo2MurCVyHLHUPVwGsS9Ly5auhWrCG1s7B3Iw
www.theage.com.au/national/i-was-a-banker-now-i-m-on-welfare-i-had-no-idea-how-hard-it-would-be-20220729-p5b5qc.html?fbclid=IwAR1kBAJ4Pf2K_ZuEAb4xQBgo2MurCVyHLHUPVwGsS9Ly5auhWrCG1s7B3Iw
)
