Extra income relief? Coalition backs JobSeeker boost
- Replies 105
We have some great news to share with you today, especially for those who might be struggling to stretch their budgets or are in need of some additional support.
The government's JobSeeker boost is now on its way after gaining the backing of the Coalition.
In this year's federal budget, the government proposed a $40 fortnightly increase to JobSeeker and Youth Allowance payments.
This would provide some much-needed relief to the hip pockets of over a million Australians on welfare, including seniors.
Moreover, the extra $92.10 a fortnight currently received by people over 60 will now also be offered to people over the age of 55.
This is a welcome change that acknowledges the financial difficulties faced by many in this age group, helping to ease the burden of living expenses. According to reports, it’s also to recognise that people 55 and over are finding it harder to find work.
The Coalition has chosen to support the legislation, though they are planning to push for an amendment to increase the income threshold a welfare recipient can earn before their payments are reduced.
The Australian Financial Review reported that the opposition intends to propose an increase in this threshold from $150 to $300 a fortnight, arguing that this change would encourage more people to re-enter the workforce.
If the government rejects this proposal, the opposition has confirmed they will still back the unamended legislation, ensuring its passage through the Senate and guaranteeing the JobSeeker boost for those in need.
While this news brings hopeful relief for many Australians, the Head of Treasury recently warned a parliamentary committee that more challenging times lie ahead – high inflation and rising interest rates continue to put the squeeze on household incomes.
In addition to the financial pressures, the property sector is also experiencing a strain.
New building approvals have plummeted by a whopping 50 per cent in the last two years, and this lack of supply could worsen the rental and housing affordability crisis.
It was first announced earlier this month that recipients aged over 55 were expected to receive a modest increase in their JobSeeker rate.
According to the report, the decision is part of the government’s plan to bring relief to cost-of-living pressures, specifically targeting those who have been unemployed for a while and older Australians having trouble finding work.
You can read the rest of the story here.
This story also comes after a welfare recipient and a radio host ignited a heated discussion live on-air about whether or not the current system is too generous, too stingy, or just right. You can read the full story here.
Our focus here at Seniors Discount Club is always to keep you informed of the latest developments that affect your daily lives. We're here to support and entertain you, and we hope this update brought some welcome news to your day!
What do you think about this boost, members? Share your thoughts in the comments!
The government's JobSeeker boost is now on its way after gaining the backing of the Coalition.
In this year's federal budget, the government proposed a $40 fortnightly increase to JobSeeker and Youth Allowance payments.
This would provide some much-needed relief to the hip pockets of over a million Australians on welfare, including seniors.
The federal budget included a $40 fortnightly increase to JobSeeker and youth allowance payments. Credit: David Peterson/Pexels
Moreover, the extra $92.10 a fortnight currently received by people over 60 will now also be offered to people over the age of 55.
This is a welcome change that acknowledges the financial difficulties faced by many in this age group, helping to ease the burden of living expenses. According to reports, it’s also to recognise that people 55 and over are finding it harder to find work.
The Coalition has chosen to support the legislation, though they are planning to push for an amendment to increase the income threshold a welfare recipient can earn before their payments are reduced.
The Australian Financial Review reported that the opposition intends to propose an increase in this threshold from $150 to $300 a fortnight, arguing that this change would encourage more people to re-enter the workforce.
The increase would hopefully encourage people to go back to work. Credit: Karen Laårk Boshoff/Pexels
If the government rejects this proposal, the opposition has confirmed they will still back the unamended legislation, ensuring its passage through the Senate and guaranteeing the JobSeeker boost for those in need.
While this news brings hopeful relief for many Australians, the Head of Treasury recently warned a parliamentary committee that more challenging times lie ahead – high inflation and rising interest rates continue to put the squeeze on household incomes.
In addition to the financial pressures, the property sector is also experiencing a strain.
New building approvals have plummeted by a whopping 50 per cent in the last two years, and this lack of supply could worsen the rental and housing affordability crisis.
It was first announced earlier this month that recipients aged over 55 were expected to receive a modest increase in their JobSeeker rate.
According to the report, the decision is part of the government’s plan to bring relief to cost-of-living pressures, specifically targeting those who have been unemployed for a while and older Australians having trouble finding work.
You can read the rest of the story here.
This story also comes after a welfare recipient and a radio host ignited a heated discussion live on-air about whether or not the current system is too generous, too stingy, or just right. You can read the full story here.
What do you think about this boost, members? Share your thoughts in the comments!
.png){kind=icon}
