Australia’s finance minister has ruled out raising the base rate of the JobSeeker payment, although she acknowledged that those on the support program are doing it tough.
Minister Katy Gallagher also hinted that the government would slightly increase taxes on oil and gas companies while standing by its decision to deliver the stage-three tax cuts.
Amid demands for a cash boost by at least $76 a day to Centrelink Jobseeker in the upcoming federal budget to assist Australians coping with the cost of living crisis, Gallagher said the main challenge is balancing the budget.
“In terms of jobseeker, there’s no doubt that people on jobseeker do it tough. There’s no doubt about that,” she told ABC Insiders on Sunday.
“I accept that. The challenge for government, and I note some on the couch don’t see this as a real issue, is how we balance up the range of pressures across the budget.
Stage-Three Tax Cuts
Meanwhile, Gallagher noted the government would maintain its stance on the stage-three tax cuts. The tax cut aimed to flatten the marginal tax rate to 30 percent for people earning between $45,000 (US$29,300) and $200,000 (US$133,900) from July 2024.She revealed that the upcoming May 9 budget would show the cost of the stage-three tax cuts over the next four years.
“Are they the right balance? Well, our position is those tax cuts are legislated and we haven’t changed our position. My job as finance minister is to ensure quality spending, to make some of those difficult decisions. And there are difficult decisions,” she said.
“I don’t want to pretend to anybody that these are easy decisions. They are difficult. But how do we get that balance right? How do we address disadvantage? How do we support those that are the most vulnerable? How do we provide cost-of-living relief within the context of the environment we’re in?”
She noted that the government is under “a range of pressures” that are increasing over the long term.
But she added that the government would continue to focus on addressing women’s equality, with significant financial support for women in housing stress remaining on the table.
When asked about the National Disability Insurance Scheme, Gallagher said the challenge with the initiative is making sure that “every dollar going in there—and it’s a substantial amount of dollars now, is actually delivering the outcomes we want in supporting people with a disability to live a dignified life.”
Also on Sunday, the social services minister announced a funding boost for young carers so they can keep up with their schooling or education while caring for loved ones.
The $10 million injection into the young carer bursary program aims to ease the burden on carers aged 12-25 who are trying to study.
Social Services Minister Amanda Rishworth said demand for the bursary was consistently outstripping demand.
“This funding boost will increase the number of bursaries available by almost 60 per cent,” she said.
