L-PLATE DAN HAS ANOTHER CAR CRASH
February 08, 2018
The L-Plate Minister for Social Services, Dan Tehan, has produced another car crash performance during Question Time.
Today the Minister was asked:
“When will the Government lower deeming rates for part-pensioners?”
L-Plate Dan responded by saying:
“We will, we will, consider all options that will help. We will consider all help….all options. We will consider all options that help get Australians get a job.”
Is the Minister seriously suggesting that pensioners should just go out and get a job?
It’s been nearly three years since deeming rates were adjusted for part-pensioners.
Interest rates have fallen from 2.25 percent in February 2015 to 1.50 percent today, yet the Turnbull Government has done nothing.
Deeming rates are meant to reflect returns across a range of investment choices available in the market, but the conservatives have failed to act by lowering deeming rates.
Currently a single pensioner’s savings are deemed at 1.75 percent on the first $50,200 and any amount over that is deemed at 3.25 percent.
Labor understands that in today’s low interest rate environment pensioners find it very hard to get a reasonable rate of return on their savings.
The Turnbull Government should do the right thing by lowering the deeming rates and provide some relief to Australian pensioners.
L-Plate Dan would rather give big business a $65 billion handout, than help pensioners by lowering the deeming rates.
THURSDAY, 8 FEBRUARY 2018