The 2023 federal budget has a strong emphasis on the cost-of-living, with a A$14.6 billion plan designed to help Australians who are “under the pump”.
The headline measure is a $40 per fortnight increase in the JobSeeker payment. But it also includes expanding the eligibility for parenting payment (single), providing a moderately more generous JobSeeker payment for those aged between 55 and 60 and a 15% increase to rent assistance.
These measures on an annual basis put around $2 billion a year into low and middle income families. Of these, 95% go to low and middle income families and around 70% go to the lowest 40%.
