Federal Budget 2024: Centrelink welfare payment boost set to be included in next week’s budget
Welfare recipients and the unemployed could be among the big winners as Anthony Albanese’s government looks to increase support payments in next week’s federal budget.
Treasurer Jim Chalmers has confirmed that some of the 22 recommendations from the Economic Inclusion Advisory Committee (EIAC) will be adopted next Tuesday.
He is tight-lipped about which recommendations will get the green light, but has ruled out adopting any of them.
One of the EIAC’s recommendations was a ‘substantial’ increase in job seeker’s allowance to 90 percent of the old-age pension.
This would increase payments from the current $762.70 per fortnight for singles to $1,004.67 – an increase of $121 per week or $17 per day.
Treasurer Jim Chalmers will adopt some of the Economic Inclusion Advisory Committee’s (EIAC) 22 recommendations in next week’s federal budget
“There will be additional steps in this budget that are mindful of the recommendations that this important, highly regarded and well-informed committee has made to us,” Mr Chalmers told reporters on Thursday.
‘We take it seriously.’
He warned that the government cannot afford to adopt every recommendation.
“In some cases, announcing future directions is warranted. In other countries we have to be a little more careful because we have to be aware of the budget situation and what we can afford,” Mr Chalmers added.
“We don’t want to overpromise and underdeliver when it comes to our most vulnerable people.”
The Advisory Committee on Economic Inclusion called for a ‘substantial’ increase in the Jobseeker Payment (stock image)
The EIAC suggested that JobSeeker could be rolled out in phases rather than a single increment, but was determined to commit to a specific timeframe if it went that route.
About 740,800 Australians have received Jobseeker’s Allowance since March last year.
Other increases in rental assistance payments, investments in social and affordable housing for Indigenous peoples, and overhaul of the employment system.
Earlier this week, Mr Chalmers revealed that one of the key focuses of the Budget will be tackling inflation.
“More will be spent [and] there will be more spending cuts… But this is not the time for scorched earth cuts,” he said.
“It wouldn’t be wise when people are struggling and when the economy is weak for us to cut and burn in this budget.”
Among the recommendations included a call for a ‘substantial’ increase in Jobseeker Payments, increasing it by an additional $121 per week or $17 per day
An increase in Commonwealth Rent Assistance is also planned, with Finance Minister Katy Gallagher claiming it could improve women’s economic security.
“Commonwealth Rent Assistance… goes towards providing support to a lot of women and a lot of women who are single parents,” she told ABC’s Insiders earlier this week.
“We’re looking across the board at what’s possible, but we’ve made no secret of the fact that we want to make sure we’re advancing economic equality for women… part of the answer is the payment system.”