TURNBULL MUST RULE OUT HARSH BUDGET CUTS TO PENSIONERS AND VULNERABLE AUSTRALIANS

March 27, 2017


Malcolm Turnbull and Scott Morrison must rule out making harsh cuts to pensioners and vulnerable Australians in the 2017 Budget, as flagged by Tony Shepherd and the Menzies Research Centre today. 

Australians simply do not want a repeat of the horror 2014 budget – they don’t want to see harsh cuts to pensioners, families and people with disability.

Tony Shepherd is the author of the Commission of Audit report that provided the blueprint for the disastrous 2014 Budget.

Labor will not forget that the Commission of Audit recommended abolishing Family Tax Benefit Part B, increasing the pension age to 70 and cutting pension indexation.

The truth is Australia’s pension system is well-targeted and sustainable compared to many other developed countries.

Figures from the OECD show that Australia spends a relatively small proportion of our GDP on payments to the elderly.

Public spending on old-age pensions across the OECD averaged 7.9 per cent of GDP.

Australia spends just 3.5 per cent of GDP on old-age pensions, making it one of the lowest spenders on pensions in the developed world.

Australian pensioners have worked hard all their lives – they deserve a decent standard of living in retirement.

They certainly don’t deserve to be treated like a burden by Mr Turnbull and his mates at the big end of town. 

Malcolm Turnbull and the Liberals just don’t get fairness. They will always put the interests of big business ahead of pensioners and ordinary Australians. 

MONDAY, 27 MARCH 2017

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