TURNBULL’S ASSETS TEST CUT HITS PART-PENSIONERS HARD

New data released today shows the true cost of Malcolm Turnbull’s changes to the pension assets test, which will cut the Age Pension for 330,000 elderly Australians.  

We now know exactly where these cuts will hit hardest when the Turnbull Government’s changes to the assets test kick in from 1 January 2017.

The data shows the electorates where the most people will lose part of their pension, and the electorates where the most people will lose their entire pension.

Part-pensioners all across the country are going to have their household budgets cut by the Liberals. These cuts will be particularly felt in regional Australia and the suburbs of Melbourne and Adelaide.

In total, about 330,000 part-pensioners across Australia will have their cost of living increased because of the Liberals’ pension cuts.

The legislation to change the pension assets test and cut part-pensions passed the Parliament in June 2015 under a dirty deal between the Liberals and the Greens.

Tony Abbott may be gone for now, but Malcolm Turnbull has done absolutely nothing to change his unfair policies. Tony Abbott’s pension cuts are now Malcolm Turnbull’s pension cuts.

Cutting the part-pension shows how out of touch the Liberals are. They are hurting struggling pensioners while doing nothing to crack down on the outrageous tax avoidance by multinational companies making billions of dollars.

Mr Turnbull needs to explain why he thinks it’s fair for Australian pensioners to have their cost of living increased while some massive multinational companies pay little or no tax.

Under the Liberals, multinational companies get a free kick, and Australian pensioners get kicked in the guts.

The Abbott-Turnbull track record for pensioners is nothing short of dreadful.

First they tried to cut pension indexation – a cut that would have meant pensioners would be forced to live on $80 a week less within ten years.

Then they cut $1.3 billion from concessions which help pensioners with the cost essential services like electricity, water and public transport.

Then they did a deal with the Greens to cut the pension for 330,000 part-pensioners by changing the assets test.

The Liberals also want to increase the pension eligibility age to 70 – meaning Australia would have the oldest retirement age in the developed world.

And now Malcom Turnbull wants to slug Australian pensioners with a 15 per cent GST, hitting households by up to $4,000 a year and reducing the living standards of Australian pensioners.

Only Labor is standing up for Australian pensioners by opposing cuts to the pension and any increase to the GST.

TOP 15 ELECTORATES WHERE PART- PENSIONS WILL BE REDUCED:

Electorate

Estimated number of pensioners with reduced pension

Estimated average reduction in pension ($/fn) 

Lyne

2,610

$131

Gilmore

2,500

$130

Flinders

2,480

$134

Corangamite

2,450

$135

Mackellar

2,390

$139

Menzies

2,380

$138

Paterson

2,370

$135

Cook

2,290

$132

Deakin

2,260

$136

Mayo

2,180

$128

Robertson

2,170

$134

Chisholm

2,160

$134

Indi

2,160

$129

Boothby

2,140

$130

Hindmarsh

2,120

$133

TOP 15 ELECTORATES WHERE PART-PENSIONS WILL BE CUT ENTIRELY:

Electorate

Estimated number of pensioners who will have pension cancelled entirely

Estimated average reduction in pension ($/fn)

Mackellar

1,200

$188

Cook

1,120

$187

Menzies

1,100

$185

Deakin

1,080

$183

Paterson

1,040

$191

Corangamite

1,040

$187

Flinders

1,040

$188

Gilmore

980

$181

Chisholm

970

$178

Bradfield

960

$179

Lyne

930

$186

Robertson

910

$190

Goldstein

900

$190

Berowra

870

$186

Mitchell

860

$177

MONDAY, 4 JANUARY 2016


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