Cost of Living Support in the Federal Budget

Support For Those Who Need it Most

The federal budget has announced a range of cost of living measures to help support those most in need in our community.

 Here is a summary of the key cost of living support that’s been announced:

  • New electricity rebate of $500 for eligible low-income households. The rebates have been funded between the state and federal governments and apply to concession card holders and those receiving the Carers Allowance and Family Tax Benefit A and B.
  • $650 electricity rebate for Queensland small businesses that use less than 100 MWh per year. They will automatically receive the rebate.
  • Tripling Bulk Billing incentives for GPs by delivering free GP consultations for a further 11 million patients. Those eligible include children under the age of 16, pensioners and other Commonwealth concession card holders.
  • Help for renters  by increasing Commonwealth Rental Assistance payments by 15%, equivalent to $31 a fortnight.
  • Expanding access to the Parenting Payment (Single) for single parents with children aged 8 to 13. 57,000 single parents  across the country  will receive an extra $176.90 per fortnight and also benefit from more generous earning arrangements
  • Targeted support for older job seekers  by  expanding the existing higher rate of JobSeeker to those aged 55+, equating to an increase of $92.10 per fortnight
  • Increasing the base rate of the JobSeeker Payment, Austudy and Youth Allowance and other income support payments by $40 per fortnight.
  • More than 300 PBS medicines will be available to support patients with chronic health conditions by allowing 2 months of scripts to be filled at once. General patients will be able to save up to $180 a year per medicine if prescribed for 60 days, and concession card holders up to $43.80 a year per medicine.
  • Pay rise of 15% for aged care workers – delivering on the promise to increase wages for those who care for our elderly loved ones.

This budget  is a practical and responsible budget which helps those most in need, without adding to inflationary pressures,  as well as delivering a modest surplus.

The measures from the federal government come in addition to the support that is already being provided by the Queensland government, including rental law reform, subsidies for those that need it most, energy rebates and other discounts for pensioners and concession card holders. Find out more  about the Queensland government reforms and initiatives here.

You can also take my survey to let me know how the rising cost of living is affecting you. It will help me to advocate on our community’s behalf.

Read more about My Plan for Toohey, including investing in our local hospitals, delivering cheaper and cleaner power and supporting our young people with great schools and jobs and skills training.

Check out my News Page for more local updates.