TURNBULL CUTTING BILLIONS FROM AUSTRALIAN HOUSEHOLDS
February 07, 2017
The latest report from the Parliamentary Budget Office reveals the full extent of the Turnbull Government’s cuts to Australian households over the next decade.
Malcolm Turnbull’s harsh Budget cuts include:
- Cuts to paid parental leave which will make about 80,000 new parents worse off;
- Increasing the pension age to 70 – the oldest pension age in the developed world.
- Cuts to family payments which will leave more than one million Australian families as much as $3,000 a year worse off;
- Cutting the Energy Supplement to pensioners, people with disability, carers and Newstart recipients.
- Five week wait for income support – a cut that will leave young jobseekers with nothing to live on for over a month;
- Cuts to young people between the ages of 22 and 24 by pushing them onto the lower Youth Allowance – a cut of around $48 a week or almost $2,500 a year.
The PBO has shown the ten year impact of the Turnbull Government’s paid parental leave cuts. Over the next ten years, around $4 billion will be ripped from the pockets of working mums.
Because of Mr Turnbull’s paid parental leave cuts, every year tens of thousands of new mums will be forced to spend less time with their newborn babies in those precious early months. If they choose to stay at home to care for their newborn, they will have their living standards reduced.
For the first time the PBO has revealed the impact of the Coalition’s plan to increase the Age Pension eligibility age to 70.
By 2026-27 nearly $2 billion will be cut from the household budgets of older Australians. This cut will affect all Australians born after 1 January 1966.
How does Mr Turnbull expect tradies, farmers and nurses to work until they’re 70? He’s completely out of touch.
The biggest cut of them all is to Family Tax Benefits. Over the next ten years Malcolm Turnbull wants to cut more than $13 billion from low and middle income families.
Mr Turnbull and the Liberals also want to cut the Energy Supplement to pensioners, disability support pensioners, carers and Newstart recipients by $5.5 billion over the next decade.
On top of all those harsh cuts – Malcolm Turnbull is asking all young people to bear the burden for his fiscal incompetence.
The Coalition’s harsh plan to make young jobseekers wait five weeks for Newstart combined with their plan to change the eligibility age for Newstart will see around $2.6 billion taken from the pockets of young Australians.
Malcolm Turnbull’s only plan is to rip billions from household budgets across Australia.
TUESDAY, 7 FEBRUARY 2017