2022-3 Federal Budget: What does it mean for you?​

Yesterday, we looked at the available budget information and what we could expect in terms of support for pensioners. There are a few surprises here and there so stay tuned for everything you need to know.

Well, the Albanese government's first federal budget has officially been released and the question on everyone’s lips is: what does it mean for pensioners? And on a personal level, what does it mean for you?

How did pensioners fare in this federal budget? Image Credit: Shutterstock

Cost of living

Unfortunately, members, this isn’t great news.

‘This budget makes hard decisions for hard times,’ Chalmers said in his budget speech.

Further global economic downturn is expected as the government responds to inflation and deals with disaster payments in the wake of the floods. All in all, the economic outlook of Australia looks gloomy.

Despite this, Treasurer Jim Chalmers said, ‘Our economy is expected to grow solidly this financial year, by three and a quarter per cent, before slowing to one and a half per cent growth for 2023-24, a full percentage point lower than what was forecast in March.’

‘The worst thing that we could do is contribute to even higher inflation,’ Chalmers said. ‘We don’t want cost-of-living relief to be counter-productive. The best thing we can do now is exercise restraint.’

$65.7 million in funding has been set aside for government agencies including the Australian Competition and Consumer Commission (ACCC) to regulate the gas and electricity industries. Currently, it’s expected that prices will increase by up to 58 per cent in the coming year (20 per cent increase by Christmas and approximately 30 per cent in the coming financial year).

‘I'm not going to pretend that we're not worried about these electricity price forecasts,’ Chalmers told reporters.

‘I think any responsible government, facing these kinds of price hikes for electricity and gas, needs to consider a broader suite of regulatory interventions,’ he said, making it clear his preference is for legislation, rather than cash splash spending programs.

Working Pensioners and Self-Funded Retirees

Those of you on the age and service pensions can finally earn additional wages before seeing your payments cut.

Working pensioners can now earn an extra $4000 as a one-off this financial year before their payments are reduced. This is a rise in allowed earnings from the previous $7800 to $11,800.

This kicks in from 1 December 2022 and eligible pensioners will have their Work Bonus Income Bank credited until 30 June 2023.

Subject to passage of legislation, Age Pension and equivalent Department of Veterans’ Affairs pension recipients with employment income who exceed the income limit will have their payment suspended for up to two years, rather than cancelled after 12 weeks as is currently the case.

They will also be able to keep their Pensioner Concession Card, and associated benefits, for up to two years.

Almost $70 million has been allocated to increase the income threshold for the seniors’ health card from $61,284 to $90,000 for singles and from $98,054 to $144,000 (combined) for couples.

This higher income threshold is expected to also give more than 50,000 self-funded retirees access to the Commonwealth Seniors Health Card (CSHC).

Housing affordability

As predicted, the National Housing Accord plans for one million affordable houses. This will kick in from 2024 so don’t expect anything anytime soon.

But while building 1 million homes in five years sounds unrealistic, the ABC reports that 985,085 houses were built in the five years prior to March 2022.

‘The budget also includes $350 million for the federal government and states and territories to build 10,000 new homes each year.’ states the ABC.

Older Australians will also continue to be encouraged to downsize their homes and $74 million has been pledged to support this.

The budget will expand the exemption of home sale proceeds from pension asset testing from 12 months to 24 months. This will give pensioners more time to purchase, build or renovate a new home before their pension is affected.

The lower deeming rate (0.25 per cent) will still apply. This rate lower deeming rate will also remain frozen at 0.25 per cent. The upper rate will remain at 2.25 per cent for the next two years (until 30 June 2024).

Prime Minister Anthony Albanese congratulates Jim Chalmers on his first budget. Image Credit: ABC News: Nick Haggarty

​

Health care

From January 1, 2023 the maximum general co-payment for Pharmaceutical Benefits Scheme (PBS) medication lowered to $30 per script (from $42.50). The government expects this will save around 3.6 million Australians more than $190 million in out-of-pocket costs.

The bad news? Concession card holders already pay a lower $6.80 co-payment and this figure is not set to change anytime soon. So is this PBS reform even helping the right people? You can read more here.

Funding does, however, include Flash Glucose Monitoring and Continuous Glucose Monitoring devices which is good news for Australians living with Type 1 Diabetes. $327.7 million has been confirmed over 4 years from 2022–2023 so we can expect this to come into effect ASAP. More information is due to be released soon.

$114 million will go to additional mental health and suicide prevention initiatives, including $47.7m to restore the loading for Medicare subsidised online psychiatry consultations and a $23.5m expansion of the headspace network.

Cancer patients and their families, medical professionals, and researchers will benefit from $452 million to deliver new Comprehensive Cancer Centres in Adelaide and Brisbane. Meanwhile, $14.8 million in funding will establish a Melanoma Nurses Program across Australia.

Finally, preparatory work to establish an Australian Centre for Disease Control will begin with $3.2 million in funding.


Aged Care

The budget shows a commitment to improve safety, dignity, quality and humanity in the aged care sector.

‘This Budget builds on the recommendations of the aged care royal commission and implements the government’s federal election commitments to further reform aged care,’ says Ian Yates, Council on the Ageing CEO.

A $3.9 billion investment in this budget will implement reforms that meet the needs of aged care recipients.

How will the $3.9 billion package be spent?

• $2.5 billion towards 24/7 nurses and increased care minutes
• $48.6 million towards establishing Aged Care Complaints Commissioner and the Inspector-General of Aged Care
• $312.6 million towards improved information and communication technology

From 1 July 2023, aged care residents will benefit from the new requirement for aged care homes to have a registered nurse on site at all times. That’s right, at least one registered nurse must be on site 24 hours a day, seven days a week.

For Australians who wish to be independent and remain living in their own home, reforms to in-home aged care will start from 1 July 2024. Existing in-home aged care programs will continue until this time. You can read more about the existing in-home care packages here.

There is also greater support for young Australians interested in studying aged care such as free TAFE courses. In time, this should increase the available staff in a struggling industry.

Bottom line

While the current budget will decrease overall debt in the next few years and basically halve the deficit, overall Australia’s borrowings are expected to surpass $1 trillion by June 2024. Ultimately, the pension rate and CPI increases are not keeping pace with inflation.

As member @Qwarkus aptly summarised, 'The supermarket trolley holds less every week.'

Anything else of interest?

I’m glad you asked! Other main winners from the budget include the $4.7 billion confirmed spending on childcare, $530 million for paid parental leave and $852 million for vocational education.

Did you tune into the budget, members? Did the government meet your expectations? This is Labor’s first federal budget since 2013 so we’d love to hear from you directly. Let us know in the comments below!

 

[wazezy]

2022-3 Federal Budget: What does it mean for you?​

Yesterday, we looked at the available budget information and what we could expect in terms of support for pensioners. There are a few surprises here and there so stay tuned for everything you need to know.

Well, the Albanese government's first federal budget has officially been released and the question on everyone’s lips is: what does it mean for pensioners? And on a personal level, what does it mean for you?

View attachment 7808

How did pensioners fare in this federal budget? Image Credit: Shutterstock

Cost of living

Unfortunately, members, this isn’t great news.

‘This budget makes hard decisions for hard times,’ Chalmers said in his budget speech.

Further global economic downturn is expected as the government responds to inflation and deals with disaster payments in the wake of the floods. All in all, the economic outlook of Australia looks gloomy.

Despite this, Treasurer Jim Chalmers said, ‘Our economy is expected to grow solidly this financial year, by three and a quarter per cent, before slowing to one and a half per cent growth for 2023-24, a full percentage point lower than what was forecast in March.’

‘The worst thing that we could do is contribute to even higher inflation,’ Chalmers said. ‘We don’t want cost-of-living relief to be counter-productive. The best thing we can do now is exercise restraint.’

$65.7 million in funding has been set aside for government agencies including the Australian Competition and Consumer Commission (ACCC) to regulate the gas and electricity industries. Currently, it’s expected that prices will increase by up to 58 per cent in the coming year (20 per cent increase by Christmas and approximately 30 per cent in the coming financial year).

‘I'm not going to pretend that we're not worried about these electricity price forecasts,’ Chalmers told reporters.

‘I think any responsible government, facing these kinds of price hikes for electricity and gas, needs to consider a broader suite of regulatory interventions,’ he said, making it clear his preference is for legislation, rather than cash splash spending programs.

Working Pensioners and Self-Funded Retirees

Those of you on the age and service pensions can finally earn additional wages before seeing your payments cut.

Working pensioners can now earn an extra $4000 as a one-off this financial year before their payments are reduced. This is a rise in allowed earnings from the previous $7800 to $11,800.

This kicks in from 1 December 2022 and eligible pensioners will have their Work Bonus Income Bank credited until 30 June 2023.

Subject to passage of legislation, Age Pension and equivalent Department of Veterans’ Affairs pension recipients with employment income who exceed the income limit will have their payment suspended for up to two years, rather than cancelled after 12 weeks as is currently the case.

They will also be able to keep their Pensioner Concession Card, and associated benefits, for up to two years.

Almost $70 million has been allocated to increase the income threshold for the seniors’ health card from $61,284 to $90,000 for singles and from $98,054 to $144,000 (combined) for couples.

This higher income threshold is expected to also give more than 50,000 self-funded retirees access to the Commonwealth Seniors Health Card (CSHC).

Housing affordability

As predicted, the National Housing Accord plans for one million affordable houses. This will kick in from 2024 so don’t expect anything anytime soon.

But while building 1 million homes in five years sounds unrealistic, the ABC reports that 985,085 houses were built in the five years prior to March 2022.

‘The budget also includes $350 million for the federal government and states and territories to build 10,000 new homes each year.’ states the ABC.

Older Australians will also continue to be encouraged to downsize their homes and $74 million has been pledged to support this.

The budget will expand the exemption of home sale proceeds from pension asset testing from 12 months to 24 months. This will give pensioners more time to purchase, build or renovate a new home before their pension is affected.

The lower deeming rate (0.25 per cent) will still apply. This rate lower deeming rate will also remain frozen at 0.25 per cent. The upper rate will remain at 2.25 per cent for the next two years (until 30 June 2024).

View attachment 7809

Prime Minister Anthony Albanese congratulates Jim Chalmers on his first budget. Image Credit: ABC News: Nick Haggarty

​

Health care

From January 1, 2023 the maximum general co-payment for Pharmaceutical Benefits Scheme (PBS) medication lowered to $30 per script (from $42.50). The government expects this will save around 3.6 million Australians more than $190 million in out-of-pocket costs.

The bad news? Concession card holders already pay a lower $6.80 co-payment and this figure is not set to change anytime soon. So is this PBS reform even helping the right people? You can read more here.

Funding does, however, include Flash Glucose Monitoring and Continuous Glucose Monitoring devices which is good news for Australians living with Type 1 Diabetes. $327.7 million has been confirmed over 4 years from 2022–2023 so we can expect this to come into effect ASAP. More information is due to be released soon.

$114 million will go to additional mental health and suicide prevention initiatives, including $47.7m to restore the loading for Medicare subsidised online psychiatry consultations and a $23.5m expansion of the headspace network.

Cancer patients and their families, medical professionals, and researchers will benefit from $452 million to deliver new Comprehensive Cancer Centres in Adelaide and Brisbane. Meanwhile, $14.8 million in funding will establish a Melanoma Nurses Program across Australia.

Finally, preparatory work to establish an Australian Centre for Disease Control will begin with $3.2 million in funding.


Aged Care

The budget shows a commitment to improve safety, dignity, quality and humanity in the aged care sector.

‘This Budget builds on the recommendations of the aged care royal commission and implements the government’s federal election commitments to further reform aged care,’ says Ian Yates, Council on the Ageing CEO.

A $3.9 billion investment in this budget will implement reforms that meet the needs of aged care recipients.

How will the $3.9 billion package be spent?

• $2.5 billion towards 24/7 nurses and increased care minutes
• $48.6 million towards establishing Aged Care Complaints Commissioner and the Inspector-General of Aged Care
• $312.6 million towards improved information and communication technology

From 1 July 2023, aged care residents will benefit from the new requirement for aged care homes to have a registered nurse on site at all times. That’s right, at least one registered nurse must be on site 24 hours a day, seven days a week.

For Australians who wish to be independent and remain living in their own home, reforms to in-home aged care will start from 1 July 2024. Existing in-home aged care programs will continue until this time. You can read more about the existing in-home care packages here.

There is also greater support for young Australians interested in studying aged care such as free TAFE courses. In time, this should increase the available staff in a struggling industry.

Bottom line

While the current budget will decrease overall debt in the next few years and basically halve the deficit, overall Australia’s borrowings are expected to surpass $1 trillion by June 2024. Ultimately, the pension rate and CPI increases are not keeping pace with inflation.

As member @Qwarkus aptly summarised, 'The supermarket trolley holds less every week.'

Anything else of interest?

I’m glad you asked! Other main winners from the budget include the $4.7 billion confirmed spending on childcare, $530 million for paid parental leave and $852 million for vocational education.

Did you tune into the budget, members? Did the government meet your expectations? This is Labor’s first federal budget since 2013 so we’d love to hear from you directly. Let us know in the comments below!

It was a dreadful budget, typical of the Labor government. They will absolutely ruin this country alongside the greens. We won’t be able to eat soon the way food prices are going and I’m glad I have Solar and live in far north QLD as those down south will be freezing in winter - they won’t be able to afford electricity! He rid of the Greens and Labor!

 

[mark godwin]

It was a dreadful budget, typical of the Labor government. They will absolutely ruin this country alongside the greens. We won’t be able to eat soon the way food prices are going and I’m glad I have Solar and live in far north QLD as those down south will be freezing in winter - they won’t be able to afford electricity! He rid of the Greens and Labor!

ahh the far right at its predictable best !!!!!!!!!!!!!!!!!!

 

[Rjwatto]

2022-3 Federal Budget: What does it mean for you?​

Yesterday, we looked at the available budget information and what we could expect in terms of support for pensioners. There are a few surprises here and there so stay tuned for everything you need to know.

Well, the Albanese government's first federal budget has officially been released and the question on everyone’s lips is: what does it mean for pensioners? And on a personal level, what does it mean for you?

View attachment 7808

How did pensioners fare in this federal budget? Image Credit: Shutterstock

Cost of living

Unfortunately, members, this isn’t great news.

‘This budget makes hard decisions for hard times,’ Chalmers said in his budget speech.

Further global economic downturn is expected as the government responds to inflation and deals with disaster payments in the wake of the floods. All in all, the economic outlook of Australia looks gloomy.

Despite this, Treasurer Jim Chalmers said, ‘Our economy is expected to grow solidly this financial year, by three and a quarter per cent, before slowing to one and a half per cent growth for 2023-24, a full percentage point lower than what was forecast in March.’

‘The worst thing that we could do is contribute to even higher inflation,’ Chalmers said. ‘We don’t want cost-of-living relief to be counter-productive. The best thing we can do now is exercise restraint.’

$65.7 million in funding has been set aside for government agencies including the Australian Competition and Consumer Commission (ACCC) to regulate the gas and electricity industries. Currently, it’s expected that prices will increase by up to 58 per cent in the coming year (20 per cent increase by Christmas and approximately 30 per cent in the coming financial year).

‘I'm not going to pretend that we're not worried about these electricity price forecasts,’ Chalmers told reporters.

‘I think any responsible government, facing these kinds of price hikes for electricity and gas, needs to consider a broader suite of regulatory interventions,’ he said, making it clear his preference is for legislation, rather than cash splash spending programs.

Working Pensioners and Self-Funded Retirees

Those of you on the age and service pensions can finally earn additional wages before seeing your payments cut.

Working pensioners can now earn an extra $4000 as a one-off this financial year before their payments are reduced. This is a rise in allowed earnings from the previous $7800 to $11,800.

This kicks in from 1 December 2022 and eligible pensioners will have their Work Bonus Income Bank credited until 30 June 2023.

Subject to passage of legislation, Age Pension and equivalent Department of Veterans’ Affairs pension recipients with employment income who exceed the income limit will have their payment suspended for up to two years, rather than cancelled after 12 weeks as is currently the case.

They will also be able to keep their Pensioner Concession Card, and associated benefits, for up to two years.

Almost $70 million has been allocated to increase the income threshold for the seniors’ health card from $61,284 to $90,000 for singles and from $98,054 to $144,000 (combined) for couples.

This higher income threshold is expected to also give more than 50,000 self-funded retirees access to the Commonwealth Seniors Health Card (CSHC).

Housing affordability

As predicted, the National Housing Accord plans for one million affordable houses. This will kick in from 2024 so don’t expect anything anytime soon.

But while building 1 million homes in five years sounds unrealistic, the ABC reports that 985,085 houses were built in the five years prior to March 2022.

‘The budget also includes $350 million for the federal government and states and territories to build 10,000 new homes each year.’ states the ABC.

Older Australians will also continue to be encouraged to downsize their homes and $74 million has been pledged to support this.

The budget will expand the exemption of home sale proceeds from pension asset testing from 12 months to 24 months. This will give pensioners more time to purchase, build or renovate a new home before their pension is affected.

The lower deeming rate (0.25 per cent) will still apply. This rate lower deeming rate will also remain frozen at 0.25 per cent. The upper rate will remain at 2.25 per cent for the next two years (until 30 June 2024).

View attachment 7809

Prime Minister Anthony Albanese congratulates Jim Chalmers on his first budget. Image Credit: ABC News: Nick Haggarty

​

Health care

From January 1, 2023 the maximum general co-payment for Pharmaceutical Benefits Scheme (PBS) medication lowered to $30 per script (from $42.50). The government expects this will save around 3.6 million Australians more than $190 million in out-of-pocket costs.

The bad news? Concession card holders already pay a lower $6.80 co-payment and this figure is not set to change anytime soon. So is this PBS reform even helping the right people? You can read more here.

Funding does, however, include Flash Glucose Monitoring and Continuous Glucose Monitoring devices which is good news for Australians living with Type 1 Diabetes. $327.7 million has been confirmed over 4 years from 2022–2023 so we can expect this to come into effect ASAP. More information is due to be released soon.

$114 million will go to additional mental health and suicide prevention initiatives, including $47.7m to restore the loading for Medicare subsidised online psychiatry consultations and a $23.5m expansion of the headspace network.

Cancer patients and their families, medical professionals, and researchers will benefit from $452 million to deliver new Comprehensive Cancer Centres in Adelaide and Brisbane. Meanwhile, $14.8 million in funding will establish a Melanoma Nurses Program across Australia.

Finally, preparatory work to establish an Australian Centre for Disease Control will begin with $3.2 million in funding.


Aged Care

The budget shows a commitment to improve safety, dignity, quality and humanity in the aged care sector.

‘This Budget builds on the recommendations of the aged care royal commission and implements the government’s federal election commitments to further reform aged care,’ says Ian Yates, Council on the Ageing CEO.

A $3.9 billion investment in this budget will implement reforms that meet the needs of aged care recipients.

How will the $3.9 billion package be spent?

• $2.5 billion towards 24/7 nurses and increased care minutes
• $48.6 million towards establishing Aged Care Complaints Commissioner and the Inspector-General of Aged Care
• $312.6 million towards improved information and communication technology

From 1 July 2023, aged care residents will benefit from the new requirement for aged care homes to have a registered nurse on site at all times. That’s right, at least one registered nurse must be on site 24 hours a day, seven days a week.

For Australians who wish to be independent and remain living in their own home, reforms to in-home aged care will start from 1 July 2024. Existing in-home aged care programs will continue until this time. You can read more about the existing in-home care packages here.

There is also greater support for young Australians interested in studying aged care such as free TAFE courses. In time, this should increase the available staff in a struggling industry.

Bottom line

While the current budget will decrease overall debt in the next few years and basically halve the deficit, overall Australia’s borrowings are expected to surpass $1 trillion by June 2024. Ultimately, the pension rate and CPI increases are not keeping pace with inflation.

As member @Qwarkus aptly summarised, 'The supermarket trolley holds less every week.'

Anything else of interest?

I’m glad you asked! Other main winners from the budget include the $4.7 billion confirmed spending on childcare, $530 million for paid parental leave and $852 million for vocational education.

Did you tune into the budget, members? Did the government meet your expectations? This is Labor’s first federal budget since 2013 so we’d love to hear from you directly. Let us know in the comments below!

 

[Rjwatto]

Did pensioners win big with this budget you ask have to be joking with a heading like this.Once again pensioners have been conned the recent september pension rise was no where near the massive price rises .The Politians would spend more on Lattes in a day than the 14odd dollar per week pension rise.The forecast 54% power and gas rises will be the nail in the coffin for a lot of pensioners doing it tough.Enjoy each day of life why the fresh air is still free and costs nothing

 

[Rjwatto]

ahh the far right at its predictable best !!!!!!!!!!!!!!!!!!

Far right you say you must be a far far leftard from another planet with a 50% rise in power and gas bill over the next 2 years you are dreaming if you think people will tolerate this climate change saving or not the times are going to be tough for everyone even more so for the Labor/greens party the election honeymoon is definately over

 

[Trina G]

It was a dreadful budget, typical of the Labor government. They will absolutely ruin this country alongside the greens. We won’t be able to eat soon the way food prices are going and I’m glad I have Solar and live in far north QLD as those down south will be freezing in winter - they won’t be able to afford electricity! He rid of the Greens and Labor!

Instead of just being political, why don’t you tell us what you could do better!

 

[Bikkie mum]

2022-3 Federal Budget: What does it mean for you?​

Yesterday, we looked at the available budget information and what we could expect in terms of support for pensioners. There are a few surprises here and there so stay tuned for everything you need to know.

Well, the Albanese government's first federal budget has officially been released and the question on everyone’s lips is: what does it mean for pensioners? And on a personal level, what does it mean for you?

View attachment 7808

How did pensioners fare in this federal budget? Image Credit: Shutterstock

Cost of living

Unfortunately, members, this isn’t great news.

‘This budget makes hard decisions for hard times,’ Chalmers said in his budget speech.

Further global economic downturn is expected as the government responds to inflation and deals with disaster payments in the wake of the floods. All in all, the economic outlook of Australia looks gloomy.

Despite this, Treasurer Jim Chalmers said, ‘Our economy is expected to grow solidly this financial year, by three and a quarter per cent, before slowing to one and a half per cent growth for 2023-24, a full percentage point lower than what was forecast in March.’

‘The worst thing that we could do is contribute to even higher inflation,’ Chalmers said. ‘We don’t want cost-of-living relief to be counter-productive. The best thing we can do now is exercise restraint.’

$65.7 million in funding has been set aside for government agencies including the Australian Competition and Consumer Commission (ACCC) to regulate the gas and electricity industries. Currently, it’s expected that prices will increase by up to 58 per cent in the coming year (20 per cent increase by Christmas and approximately 30 per cent in the coming financial year).

‘I'm not going to pretend that we're not worried about these electricity price forecasts,’ Chalmers told reporters.

‘I think any responsible government, facing these kinds of price hikes for electricity and gas, needs to consider a broader suite of regulatory interventions,’ he said, making it clear his preference is for legislation, rather than cash splash spending programs.

Working Pensioners and Self-Funded Retirees

Those of you on the age and service pensions can finally earn additional wages before seeing your payments cut.

Working pensioners can now earn an extra $4000 as a one-off this financial year before their payments are reduced. This is a rise in allowed earnings from the previous $7800 to $11,800.

This kicks in from 1 December 2022 and eligible pensioners will have their Work Bonus Income Bank credited until 30 June 2023.

Subject to passage of legislation, Age Pension and equivalent Department of Veterans’ Affairs pension recipients with employment income who exceed the income limit will have their payment suspended for up to two years, rather than cancelled after 12 weeks as is currently the case.

They will also be able to keep their Pensioner Concession Card, and associated benefits, for up to two years.

Almost $70 million has been allocated to increase the income threshold for the seniors’ health card from $61,284 to $90,000 for singles and from $98,054 to $144,000 (combined) for couples.

This higher income threshold is expected to also give more than 50,000 self-funded retirees access to the Commonwealth Seniors Health Card (CSHC).

Housing affordability

As predicted, the National Housing Accord plans for one million affordable houses. This will kick in from 2024 so don’t expect anything anytime soon.

But while building 1 million homes in five years sounds unrealistic, the ABC reports that 985,085 houses were built in the five years prior to March 2022.

‘The budget also includes $350 million for the federal government and states and territories to build 10,000 new homes each year.’ states the ABC.

Older Australians will also continue to be encouraged to downsize their homes and $74 million has been pledged to support this.

The budget will expand the exemption of home sale proceeds from pension asset testing from 12 months to 24 months. This will give pensioners more time to purchase, build or renovate a new home before their pension is affected.

The lower deeming rate (0.25 per cent) will still apply. This rate lower deeming rate will also remain frozen at 0.25 per cent. The upper rate will remain at 2.25 per cent for the next two years (until 30 June 2024).

View attachment 7809

Prime Minister Anthony Albanese congratulates Jim Chalmers on his first budget. Image Credit: ABC News: Nick Haggarty

​

Health care

From January 1, 2023 the maximum general co-payment for Pharmaceutical Benefits Scheme (PBS) medication lowered to $30 per script (from $42.50). The government expects this will save around 3.6 million Australians more than $190 million in out-of-pocket costs.

The bad news? Concession card holders already pay a lower $6.80 co-payment and this figure is not set to change anytime soon. So is this PBS reform even helping the right people? You can read more here.

Funding does, however, include Flash Glucose Monitoring and Continuous Glucose Monitoring devices which is good news for Australians living with Type 1 Diabetes. $327.7 million has been confirmed over 4 years from 2022–2023 so we can expect this to come into effect ASAP. More information is due to be released soon.

$114 million will go to additional mental health and suicide prevention initiatives, including $47.7m to restore the loading for Medicare subsidised online psychiatry consultations and a $23.5m expansion of the headspace network.

Cancer patients and their families, medical professionals, and researchers will benefit from $452 million to deliver new Comprehensive Cancer Centres in Adelaide and Brisbane. Meanwhile, $14.8 million in funding will establish a Melanoma Nurses Program across Australia.

Finally, preparatory work to establish an Australian Centre for Disease Control will begin with $3.2 million in funding.


Aged Care

The budget shows a commitment to improve safety, dignity, quality and humanity in the aged care sector.

‘This Budget builds on the recommendations of the aged care royal commission and implements the government’s federal election commitments to further reform aged care,’ says Ian Yates, Council on the Ageing CEO.

A $3.9 billion investment in this budget will implement reforms that meet the needs of aged care recipients.

How will the $3.9 billion package be spent?

• $2.5 billion towards 24/7 nurses and increased care minutes
• $48.6 million towards establishing Aged Care Complaints Commissioner and the Inspector-General of Aged Care
• $312.6 million towards improved information and communication technology

From 1 July 2023, aged care residents will benefit from the new requirement for aged care homes to have a registered nurse on site at all times. That’s right, at least one registered nurse must be on site 24 hours a day, seven days a week.

For Australians who wish to be independent and remain living in their own home, reforms to in-home aged care will start from 1 July 2024. Existing in-home aged care programs will continue until this time. You can read more about the existing in-home care packages here.

There is also greater support for young Australians interested in studying aged care such as free TAFE courses. In time, this should increase the available staff in a struggling industry.

Bottom line

While the current budget will decrease overall debt in the next few years and basically halve the deficit, overall Australia’s borrowings are expected to surpass $1 trillion by June 2024. Ultimately, the pension rate and CPI increases are not keeping pace with inflation.

As member @Qwarkus aptly summarised, 'The supermarket trolley holds less every week.'

Anything else of interest?

I’m glad you asked! Other main winners from the budget include the $4.7 billion confirmed spending on childcare, $530 million for paid parental leave and $852 million for vocational education.

Did you tune into the budget, members? Did the government meet your expectations? This is Labor’s first federal budget since 2013 so we’d love to hear from you directly. Let us know in the comments below!

No it didn’t do much for me at I am an aged pensioner
I own my home,have homecare every two weeks n man to mow my lawn when it needs it
with Electrity going up I will have to cut out Air conditions n keeping my phone charged up

 

[Trina G]

Did pensioners win big with this budget you ask have to be joking with a heading like this.Once again pensioners have been conned the recent september pension rise was no where near the massive price rises .The Politians would spend more on Lattes in a day than the 14odd dollar per week pension rise.The forecast 54% power and gas rises will be the nail in the coffin for a lot of pensioners doing it tough.Enjoy each day of life why the fresh air is still free and costs nothing

You obviously got on here just to bag the ALP. Stop your whinging and start being a bit more realistic. Start thinking less about yourself and your right wing politics and more about the country as a whole. You know the whole world is suffering the same fate with out of control prices etc, etc. Actually AUS is faring a bit better than others, eg UK, US to name a couple.

 

[Chris P Bacon]

Well, Chalmers, your big statement that pensioners have never been able to catch up with inflation was absolutely spot on. What you didn't add was who are you to change that? Spend absolutely millions on electric car subsidies, charging stations, and renewables are such a champion investment and priority that you are willing to destroy the well-being of pensioners to make you labour morons and greens look good.
You have however given us an out when we cannot pay our bills. We can go back to work or sell our house and downsize because you had the foresight to increase our earning capacity or relax the exemption of home sale proceeds from pension asset testing from 12 months to 24 months.
The no L for labour or G for greens was intentional.

 

[Les_D]

Did pensioners win big with this budget you ask have to be joking with a heading like this.Once again pensioners have been conned the recent september pension rise was no where near the massive price rises .The Politians would spend more on Lattes in a day than the 14odd dollar per week pension rise.The forecast 54% power and gas rises will be the nail in the coffin for a lot of pensioners doing it tough.Enjoy each day of life why the fresh air is still free and costs nothing

After the latest rise in the DSP I thought I was getting ahead until Homeswest raised the rent I pay so now I am left with the magnificent sum of $1.20 extra per fortnight. Oh well - back to eating 1 meal every 2nd day!

 

[elaine41]

2022-3 Federal Budget: What does it mean for you?​

Yesterday, we looked at the available budget information and what we could expect in terms of support for pensioners. There are a few surprises here and there so stay tuned for everything you need to know.

Well, the Albanese government's first federal budget has officially been released and the question on everyone’s lips is: what does it mean for pensioners? And on a personal level, what does it mean for you?

View attachment 7808

How did pensioners fare in this federal budget? Image Credit: Shutterstock

Cost of living

Unfortunately, members, this isn’t great news.

‘This budget makes hard decisions for hard times,’ Chalmers said in his budget speech.

Further global economic downturn is expected as the government responds to inflation and deals with disaster payments in the wake of the floods. All in all, the economic outlook of Australia looks gloomy.

Despite this, Treasurer Jim Chalmers said, ‘Our economy is expected to grow solidly this financial year, by three and a quarter per cent, before slowing to one and a half per cent growth for 2023-24, a full percentage point lower than what was forecast in March.’

‘The worst thing that we could do is contribute to even higher inflation,’ Chalmers said. ‘We don’t want cost-of-living relief to be counter-productive. The best thing we can do now is exercise restraint.’

$65.7 million in funding has been set aside for government agencies including the Australian Competition and Consumer Commission (ACCC) to regulate the gas and electricity industries. Currently, it’s expected that prices will increase by up to 58 per cent in the coming year (20 per cent increase by Christmas and approximately 30 per cent in the coming financial year).

‘I'm not going to pretend that we're not worried about these electricity price forecasts,’ Chalmers told reporters.

‘I think any responsible government, facing these kinds of price hikes for electricity and gas, needs to consider a broader suite of regulatory interventions,’ he said, making it clear his preference is for legislation, rather than cash splash spending programs.

Working Pensioners and Self-Funded Retirees

Those of you on the age and service pensions can finally earn additional wages before seeing your payments cut.

Working pensioners can now earn an extra $4000 as a one-off this financial year before their payments are reduced. This is a rise in allowed earnings from the previous $7800 to $11,800.

This kicks in from 1 December 2022 and eligible pensioners will have their Work Bonus Income Bank credited until 30 June 2023.

Subject to passage of legislation, Age Pension and equivalent Department of Veterans’ Affairs pension recipients with employment income who exceed the income limit will have their payment suspended for up to two years, rather than cancelled after 12 weeks as is currently the case.

They will also be able to keep their Pensioner Concession Card, and associated benefits, for up to two years.

Almost $70 million has been allocated to increase the income threshold for the seniors’ health card from $61,284 to $90,000 for singles and from $98,054 to $144,000 (combined) for couples.

This higher income threshold is expected to also give more than 50,000 self-funded retirees access to the Commonwealth Seniors Health Card (CSHC).

Housing affordability

As predicted, the National Housing Accord plans for one million affordable houses. This will kick in from 2024 so don’t expect anything anytime soon.

But while building 1 million homes in five years sounds unrealistic, the ABC reports that 985,085 houses were built in the five years prior to March 2022.

‘The budget also includes $350 million for the federal government and states and territories to build 10,000 new homes each year.’ states the ABC.

Older Australians will also continue to be encouraged to downsize their homes and $74 million has been pledged to support this.

The budget will expand the exemption of home sale proceeds from pension asset testing from 12 months to 24 months. This will give pensioners more time to purchase, build or renovate a new home before their pension is affected.

The lower deeming rate (0.25 per cent) will still apply. This rate lower deeming rate will also remain frozen at 0.25 per cent. The upper rate will remain at 2.25 per cent for the next two years (until 30 June 2024).

View attachment 7809

Prime Minister Anthony Albanese congratulates Jim Chalmers on his first budget. Image Credit: ABC News: Nick Haggarty

​

Health care

From January 1, 2023 the maximum general co-payment for Pharmaceutical Benefits Scheme (PBS) medication lowered to $30 per script (from $42.50). The government expects this will save around 3.6 million Australians more than $190 million in out-of-pocket costs.

The bad news? Concession card holders already pay a lower $6.80 co-payment and this figure is not set to change anytime soon. So is this PBS reform even helping the right people? You can read more here.

Funding does, however, include Flash Glucose Monitoring and Continuous Glucose Monitoring devices which is good news for Australians living with Type 1 Diabetes. $327.7 million has been confirmed over 4 years from 2022–2023 so we can expect this to come into effect ASAP. More information is due to be released soon.

$114 million will go to additional mental health and suicide prevention initiatives, including $47.7m to restore the loading for Medicare subsidised online psychiatry consultations and a $23.5m expansion of the headspace network.

Cancer patients and their families, medical professionals, and researchers will benefit from $452 million to deliver new Comprehensive Cancer Centres in Adelaide and Brisbane. Meanwhile, $14.8 million in funding will establish a Melanoma Nurses Program across Australia.

Finally, preparatory work to establish an Australian Centre for Disease Control will begin with $3.2 million in funding.


Aged Care

The budget shows a commitment to improve safety, dignity, quality and humanity in the aged care sector.

‘This Budget builds on the recommendations of the aged care royal commission and implements the government’s federal election commitments to further reform aged care,’ says Ian Yates, Council on the Ageing CEO.

A $3.9 billion investment in this budget will implement reforms that meet the needs of aged care recipients.

How will the $3.9 billion package be spent?

• $2.5 billion towards 24/7 nurses and increased care minutes
• $48.6 million towards establishing Aged Care Complaints Commissioner and the Inspector-General of Aged Care
• $312.6 million towards improved information and communication technology

From 1 July 2023, aged care residents will benefit from the new requirement for aged care homes to have a registered nurse on site at all times. That’s right, at least one registered nurse must be on site 24 hours a day, seven days a week.

For Australians who wish to be independent and remain living in their own home, reforms to in-home aged care will start from 1 July 2024. Existing in-home aged care programs will continue until this time. You can read more about the existing in-home care packages here.

There is also greater support for young Australians interested in studying aged care such as free TAFE courses. In time, this should increase the available staff in a struggling industry.

Bottom line

While the current budget will decrease overall debt in the next few years and basically halve the deficit, overall Australia’s borrowings are expected to surpass $1 trillion by June 2024. Ultimately, the pension rate and CPI increases are not keeping pace with inflation.

As member @Qwarkus aptly summarised, 'The supermarket trolley holds less every week.'

Anything else of interest?

I’m glad you asked! Other main winners from the budget include the $4.7 billion confirmed spending on childcare, $530 million for paid parental leave and $852 million for vocational education.

Did you tune into the budget, members? Did the government meet your expectations? This is Labor’s first federal budget since 2013 so we’d love to hear from you directly. Let us know in the comments below!

Once again the majority of pensioners miss out. With the rising cost of fuel & now a promised increase in electricity costs, both of which will lead to increasing costs at the supermarket, I begin to wonder about how to survive on the basic age pension. I'm scared & think the best thing is to just die so I don't have any more concerns.

 

[alliso12]

You obviously got on here just to bag the ALP. Stop your whinging and start being a bit more realistic. Start thinking less about yourself and your right wing politics and more about the country as a whole. You know the whole world is suffering the same fate with out of control prices etc, etc. Actually AUS is faring a bit better than others, eg UK, US to name a couple.

Obviously Trina G can afford a 56% increase in power prices. This from a party who 97 times said that power prices would reduce by $275 p.a. under them. Cant get them to admit how wrong they were. The bad times are coming folks. The Governments push for their so called renewables will be theirs and the Greens downfall. The common folk wont put up with their garbage and when they lose the next election they wont get back in for at least 20 years.

 

[Jaynius]

It was a dreadful budget, typical of the Labor government. They will absolutely ruin this country alongside the greens. We won’t be able to eat soon the way food prices are going and I’m glad I have Solar and live in far north QLD as those down south will be freezing in winter - they won’t be able to afford electricity! He rid of the Greens and Labor!

Yeahh...bloody Labor.
Caused the floods, made supplies short, and the Greens when they were in government just ruined us all.
Oh wait... when were the Greens in power????
Seriously!
Typical.

 

[alliso12]

Yeahh...bloody Labor.
Caused the floods, made supplies short, and the Greens when they were in government just ruined us all.
Oh wait... when were the Greens in power????
Seriously!
Typical.

Sad to say but the Greens have the balance of power in this parliament and they are weilding their stick and Albanese like a lap dog is following everything they ask for.
Seriously!
Typical

 

[Jaynius]

After the latest rise in the DSP I thought I was getting ahead until Homeswest raised the rent I pay so now I am left with the magnificent sum of $1.20 extra per fortnight. Oh well - back to eating 1 meal every 2nd day!

Well, Chalmers, your big statement that pensioners have never been able to catch up with inflation was absolutely spot on. What you didn't add was who are you to change that? Spend absolutely millions on electric car subsidies, charging stations, and renewables are such a champion investment and priority that you are willing to destroy the well-being of pensioners to make you labour morons and greens look good.
You have however given us an out when we cannot pay our bills. We can go back to work or sell our house and downsize because you had the foresight to increase our earning capacity or relax the exemption of home sale proceeds from pension asset testing from 12 months to 24 months.
The no L for labour or G for greens was intentional.

*Labor

 

[moorey60]

2022-3 Federal Budget: What does it mean for you?​

Yesterday, we looked at the available budget information and what we could expect in terms of support for pensioners. There are a few surprises here and there so stay tuned for everything you need to know.

Well, the Albanese government's first federal budget has officially been released and the question on everyone’s lips is: what does it mean for pensioners? And on a personal level, what does it mean for you?

View attachment 7808

How did pensioners fare in this federal budget? Image Credit: Shutterstock

Cost of living

Unfortunately, members, this isn’t great news.

‘This budget makes hard decisions for hard times,’ Chalmers said in his budget speech.

Further global economic downturn is expected as the government responds to inflation and deals with disaster payments in the wake of the floods. All in all, the economic outlook of Australia looks gloomy.

Despite this, Treasurer Jim Chalmers said, ‘Our economy is expected to grow solidly this financial year, by three and a quarter per cent, before slowing to one and a half per cent growth for 2023-24, a full percentage point lower than what was forecast in March.’

‘The worst thing that we could do is contribute to even higher inflation,’ Chalmers said. ‘We don’t want cost-of-living relief to be counter-productive. The best thing we can do now is exercise restraint.’

$65.7 million in funding has been set aside for government agencies including the Australian Competition and Consumer Commission (ACCC) to regulate the gas and electricity industries. Currently, it’s expected that prices will increase by up to 58 per cent in the coming year (20 per cent increase by Christmas and approximately 30 per cent in the coming financial year).

‘I'm not going to pretend that we're not worried about these electricity price forecasts,’ Chalmers told reporters.

‘I think any responsible government, facing these kinds of price hikes for electricity and gas, needs to consider a broader suite of regulatory interventions,’ he said, making it clear his preference is for legislation, rather than cash splash spending programs.

Working Pensioners and Self-Funded Retirees

Those of you on the age and service pensions can finally earn additional wages before seeing your payments cut.

Working pensioners can now earn an extra $4000 as a one-off this financial year before their payments are reduced. This is a rise in allowed earnings from the previous $7800 to $11,800.

This kicks in from 1 December 2022 and eligible pensioners will have their Work Bonus Income Bank credited until 30 June 2023.

Subject to passage of legislation, Age Pension and equivalent Department of Veterans’ Affairs pension recipients with employment income who exceed the income limit will have their payment suspended for up to two years, rather than cancelled after 12 weeks as is currently the case.

They will also be able to keep their Pensioner Concession Card, and associated benefits, for up to two years.

Almost $70 million has been allocated to increase the income threshold for the seniors’ health card from $61,284 to $90,000 for singles and from $98,054 to $144,000 (combined) for couples.

This higher income threshold is expected to also give more than 50,000 self-funded retirees access to the Commonwealth Seniors Health Card (CSHC).

Housing affordability

As predicted, the National Housing Accord plans for one million affordable houses. This will kick in from 2024 so don’t expect anything anytime soon.

But while building 1 million homes in five years sounds unrealistic, the ABC reports that 985,085 houses were built in the five years prior to March 2022.

‘The budget also includes $350 million for the federal government and states and territories to build 10,000 new homes each year.’ states the ABC.

Older Australians will also continue to be encouraged to downsize their homes and $74 million has been pledged to support this.

The budget will expand the exemption of home sale proceeds from pension asset testing from 12 months to 24 months. This will give pensioners more time to purchase, build or renovate a new home before their pension is affected.

The lower deeming rate (0.25 per cent) will still apply. This rate lower deeming rate will also remain frozen at 0.25 per cent. The upper rate will remain at 2.25 per cent for the next two years (until 30 June 2024).

View attachment 7809

Prime Minister Anthony Albanese congratulates Jim Chalmers on his first budget. Image Credit: ABC News: Nick Haggarty

​

Health care

From January 1, 2023 the maximum general co-payment for Pharmaceutical Benefits Scheme (PBS) medication lowered to $30 per script (from $42.50). The government expects this will save around 3.6 million Australians more than $190 million in out-of-pocket costs.

The bad news? Concession card holders already pay a lower $6.80 co-payment and this figure is not set to change anytime soon. So is this PBS reform even helping the right people? You can read more here.

Funding does, however, include Flash Glucose Monitoring and Continuous Glucose Monitoring devices which is good news for Australians living with Type 1 Diabetes. $327.7 million has been confirmed over 4 years from 2022–2023 so we can expect this to come into effect ASAP. More information is due to be released soon.

$114 million will go to additional mental health and suicide prevention initiatives, including $47.7m to restore the loading for Medicare subsidised online psychiatry consultations and a $23.5m expansion of the headspace network.

Cancer patients and their families, medical professionals, and researchers will benefit from $452 million to deliver new Comprehensive Cancer Centres in Adelaide and Brisbane. Meanwhile, $14.8 million in funding will establish a Melanoma Nurses Program across Australia.

Finally, preparatory work to establish an Australian Centre for Disease Control will begin with $3.2 million in funding.


Aged Care

The budget shows a commitment to improve safety, dignity, quality and humanity in the aged care sector.

‘This Budget builds on the recommendations of the aged care royal commission and implements the government’s federal election commitments to further reform aged care,’ says Ian Yates, Council on the Ageing CEO.

A $3.9 billion investment in this budget will implement reforms that meet the needs of aged care recipients.

How will the $3.9 billion package be spent?

• $2.5 billion towards 24/7 nurses and increased care minutes
• $48.6 million towards establishing Aged Care Complaints Commissioner and the Inspector-General of Aged Care
• $312.6 million towards improved information and communication technology

From 1 July 2023, aged care residents will benefit from the new requirement for aged care homes to have a registered nurse on site at all times. That’s right, at least one registered nurse must be on site 24 hours a day, seven days a week.

For Australians who wish to be independent and remain living in their own home, reforms to in-home aged care will start from 1 July 2024. Existing in-home aged care programs will continue until this time. You can read more about the existing in-home care packages here.

There is also greater support for young Australians interested in studying aged care such as free TAFE courses. In time, this should increase the available staff in a struggling industry.

Bottom line

While the current budget will decrease overall debt in the next few years and basically halve the deficit, overall Australia’s borrowings are expected to surpass $1 trillion by June 2024. Ultimately, the pension rate and CPI increases are not keeping pace with inflation.

As member @Qwarkus aptly summarised, 'The supermarket trolley holds less every week.'

Anything else of interest?

I’m glad you asked! Other main winners from the budget include the $4.7 billion confirmed spending on childcare, $530 million for paid parental leave and $852 million for vocational education.

Did you tune into the budget, members? Did the government meet your expectations? This is Labor’s first federal budget since 2013 so we’d love to hear from you directly. Let us know in the comments below!

So this Government bull shitted to us just like the old one did about electricity and gas prices.

 

[Knell]

Sad to say but the Greens have the balance of power in this parliament and they are weilding their stick and Albanese like a lap dog is following everything they ask for.
Seriously!
Typical

Sad in May 2022. Scared in Oct 2022. Wonder what emotion will come after another year or two - probably too poor to have one!

 

[Linwar]

2022-3 Federal Budget: What does it mean for you?​

Yesterday, we looked at the available budget information and what we could expect in terms of support for pensioners. There are a few surprises here and there so stay tuned for everything you need to know.

Well, the Albanese government's first federal budget has officially been released and the question on everyone’s lips is: what does it mean for pensioners? And on a personal level, what does it mean for you?

View attachment 7808

How did pensioners fare in this federal budget? Image Credit: Shutterstock

Cost of living

Unfortunately, members, this isn’t great news.

‘This budget makes hard decisions for hard times,’ Chalmers said in his budget speech.

Further global economic downturn is expected as the government responds to inflation and deals with disaster payments in the wake of the floods. All in all, the economic outlook of Australia looks gloomy.

Despite this, Treasurer Jim Chalmers said, ‘Our economy is expected to grow solidly this financial year, by three and a quarter per cent, before slowing to one and a half per cent growth for 2023-24, a full percentage point lower than what was forecast in March.’

‘The worst thing that we could do is contribute to even higher inflation,’ Chalmers said. ‘We don’t want cost-of-living relief to be counter-productive. The best thing we can do now is exercise restraint.’

$65.7 million in funding has been set aside for government agencies including the Australian Competition and Consumer Commission (ACCC) to regulate the gas and electricity industries. Currently, it’s expected that prices will increase by up to 58 per cent in the coming year (20 per cent increase by Christmas and approximately 30 per cent in the coming financial year).

‘I'm not going to pretend that we're not worried about these electricity price forecasts,’ Chalmers told reporters.

‘I think any responsible government, facing these kinds of price hikes for electricity and gas, needs to consider a broader suite of regulatory interventions,’ he said, making it clear his preference is for legislation, rather than cash splash spending programs.

Working Pensioners and Self-Funded Retirees

Those of you on the age and service pensions can finally earn additional wages before seeing your payments cut.

Working pensioners can now earn an extra $4000 as a one-off this financial year before their payments are reduced. This is a rise in allowed earnings from the previous $7800 to $11,800.

This kicks in from 1 December 2022 and eligible pensioners will have their Work Bonus Income Bank credited until 30 June 2023.

Subject to passage of legislation, Age Pension and equivalent Department of Veterans’ Affairs pension recipients with employment income who exceed the income limit will have their payment suspended for up to two years, rather than cancelled after 12 weeks as is currently the case.

They will also be able to keep their Pensioner Concession Card, and associated benefits, for up to two years.

Almost $70 million has been allocated to increase the income threshold for the seniors’ health card from $61,284 to $90,000 for singles and from $98,054 to $144,000 (combined) for couples.

This higher income threshold is expected to also give more than 50,000 self-funded retirees access to the Commonwealth Seniors Health Card (CSHC).

Housing affordability

As predicted, the National Housing Accord plans for one million affordable houses. This will kick in from 2024 so don’t expect anything anytime soon.

But while building 1 million homes in five years sounds unrealistic, the ABC reports that 985,085 houses were built in the five years prior to March 2022.

‘The budget also includes $350 million for the federal government and states and territories to build 10,000 new homes each year.’ states the ABC.

Older Australians will also continue to be encouraged to downsize their homes and $74 million has been pledged to support this.

The budget will expand the exemption of home sale proceeds from pension asset testing from 12 months to 24 months. This will give pensioners more time to purchase, build or renovate a new home before their pension is affected.

The lower deeming rate (0.25 per cent) will still apply. This rate lower deeming rate will also remain frozen at 0.25 per cent. The upper rate will remain at 2.25 per cent for the next two years (until 30 June 2024).

View attachment 7809

Prime Minister Anthony Albanese congratulates Jim Chalmers on his first budget. Image Credit: ABC News: Nick Haggarty

​

Health care

From January 1, 2023 the maximum general co-payment for Pharmaceutical Benefits Scheme (PBS) medication lowered to $30 per script (from $42.50). The government expects this will save around 3.6 million Australians more than $190 million in out-of-pocket costs.

The bad news? Concession card holders already pay a lower $6.80 co-payment and this figure is not set to change anytime soon. So is this PBS reform even helping the right people? You can read more here.

Funding does, however, include Flash Glucose Monitoring and Continuous Glucose Monitoring devices which is good news for Australians living with Type 1 Diabetes. $327.7 million has been confirmed over 4 years from 2022–2023 so we can expect this to come into effect ASAP. More information is due to be released soon.

$114 million will go to additional mental health and suicide prevention initiatives, including $47.7m to restore the loading for Medicare subsidised online psychiatry consultations and a $23.5m expansion of the headspace network.

Cancer patients and their families, medical professionals, and researchers will benefit from $452 million to deliver new Comprehensive Cancer Centres in Adelaide and Brisbane. Meanwhile, $14.8 million in funding will establish a Melanoma Nurses Program across Australia.

Finally, preparatory work to establish an Australian Centre for Disease Control will begin with $3.2 million in funding.


Aged Care

The budget shows a commitment to improve safety, dignity, quality and humanity in the aged care sector.

‘This Budget builds on the recommendations of the aged care royal commission and implements the government’s federal election commitments to further reform aged care,’ says Ian Yates, Council on the Ageing CEO.

A $3.9 billion investment in this budget will implement reforms that meet the needs of aged care recipients.

How will the $3.9 billion package be spent?

• $2.5 billion towards 24/7 nurses and increased care minutes
• $48.6 million towards establishing Aged Care Complaints Commissioner and the Inspector-General of Aged Care
• $312.6 million towards improved information and communication technology

From 1 July 2023, aged care residents will benefit from the new requirement for aged care homes to have a registered nurse on site at all times. That’s right, at least one registered nurse must be on site 24 hours a day, seven days a week.

For Australians who wish to be independent and remain living in their own home, reforms to in-home aged care will start from 1 July 2024. Existing in-home aged care programs will continue until this time. You can read more about the existing in-home care packages here.

There is also greater support for young Australians interested in studying aged care such as free TAFE courses. In time, this should increase the available staff in a struggling industry.

Bottom line

While the current budget will decrease overall debt in the next few years and basically halve the deficit, overall Australia’s borrowings are expected to surpass $1 trillion by June 2024. Ultimately, the pension rate and CPI increases are not keeping pace with inflation.

As member @Qwarkus aptly summarised, 'The supermarket trolley holds less every week.'

Anything else of interest?

I’m glad you asked! Other main winners from the budget include the $4.7 billion confirmed spending on childcare, $530 million for paid parental leave and $852 million for vocational education.

Did you tune into the budget, members? Did the government meet your expectations? This is Labor’s first federal budget since 2013 so we’d love to hear from you directly. Let us know in the comments below!

What about a budget that makes the gas industry pay tax????

 

[Defiant540]

Far right you say you must be a far far leftard from another planet with a 50% rise in power and gas bill over the next 2 years you are dreaming if you think people will tolerate this climate change saving or not the times are going to be tough for everyone even more so for the Labor/greens party the election honeymoon is definately over

what happened to punctuation?