Labor calls on Tony Abbott to unreservedly drop his cuts to pension indexation.
The Abbott Government should take these cuts out of the Parliament and out of the Budget.
Australian pensioners deserve to know that they are not going to have their pension cut by $80 a week over the next decade.
This is neither fair nor sustainable.
Under the Government’s current policy the pension will drop from 28 per cent of Male Total Average Weekly earnings today to just 16 per cent by 2055.
Australian pensioners risk being pushed into poverty and hardship.
Labor has made responsible decisions to ensure Australia’s pension system is well-targeted and sustainable.
In 2009, Labor tightened the pension income test by increasing the taper rate from 40 per cent to 50 per cent for each dollar of income over the income test free area.
In the 1980s the Hawke Government made the decision to introduce an assets test to the Age Pension, a move that was opposed by the Liberal Opposition at the time.
Cutting pension indexation is neither fair, equitable nor sustainable.
It's time for Tony Abbott and Scott Morrison to drop these cuts forever.
FRIDAY, 3 APRIL 2015