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The Albanese government has rolled out another Commonwealth Rent Assistance increase and payment indexations among other measures to help Australians tackle the cost of living.
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Treasurer reveals additional cost-of-living relief solutions
25 September 2024
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More cost-of-living relief measures were rolled out on Friday last week to provide more help for Australians around the country, according to Treasurer Jim Chalmers.
Chalmers said the Treasury rolled out the first back-to-back increase to Commonwealth Rent Assistance in more than 30 years as well as the indexation of pensions and payments opposed by the Liberals and Nationals.
“We’re already rolling out tax cuts and energy rebates and from now we’ll give people more help to pay the rent and deliver an increase to pensions and payments include the age pension,” Treasurer Chalmers said.
“The Coalition have made it very clear they don’t think the age pension and other payments should have been indexed to keep up with inflation and would cut this vital cost-of-living support if given the chance.”
Treasurer Chalmers said the previous 15 per cent increase to the Commonwealth Rent Assistance that started last year has not been entirely effective, which is why the Albanese government has increased it by a further 10 per cent.
Along with the Commonwealth Rent Assistance increase and indexation for the age pension, the Albanese government has also rolled out various other relief schemes.
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Disability support pension, JobSeeker, carer payments, and parenting payments have also been indexed with the aim to benefit more than 5 million Australians, Treasurer Chalmers said.
JobSeeker recipients with an assessed partial capacity to work less than 15 hours per week will move to the higher rate of the payment, receiving an increase of $71.20 a fortnight combined with indexation.
From Friday the base rate of the single-person JobSeeker payment increased by $135 a fortnight, which is a 21.1 per cent increase since Albanese took up office.
The income limits for the Commonwealth Seniors Health Card also saw an increase to $99,025 for singles and $158,44 for couples.
Treasurer Chalmers said the Labor government has rolled out the new relief schemes to ease the cost of living for Australians at the same time as fighting inflation in the economy.
“We know there’s more to do in the fight against inflation and people are doing it tough and that’s why we’re rolling out responsible cost-of-living relief while turning big Liberal deficits into Labor surpluses,” he said.
“We’re doing out bit in the Budget to fight inflation and ease pressure on Australians, including through cost-of-living relief and our responsible economic management.”
Other measures currently rolling out or set to roll out in the future include tax cuts, increased wages for aged care and early childhood education, energy rebates for households and small businesses, as well as decreased medicine prices.
There will also be a freeze on the maximum price of Pharmaceutical Benefits Scheme copayments for one year; removed barriers to employment for carer payment recipients; a $3 billion waiver in student debt; and a $138 million boost to funding for emergency, flood relief, and financial support services.
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