CUTTING THE PENSION WILL ONLY MAKE INEQUALITY WORSE

THE HON LINDA BURNEY
SHADOW MINISTER FOR HUMAN SERVICES
SHADOW MINISTER FOR PREVENTING FAMILY VIOLENCE
ACTING SHADOW MINISTER FOR FAMILIES AND SOCIAL SERVICES
MEMBER FOR BARTON

CUTTING THE PENSION WILL ONLY MAKE INEQUALITY WORSE

 Today’s UNSW/ACOSS Report into Inequality shows that the Turnbull Government’s planned cuts to the pension will hurt some of the most vulnerable in our community.
 
The report finds, that of those households worst impacted by inequality:
 
“Most (60%) of the lowest 20% are in households that rely mainly on social security for their income, of which the largest group (51%) receives Age Pensions.”
 
These are the very pensioners that will be hit by the Turnbull Government’s planned cut.
 
The Liberals currently have legislation in the Parliament to cut the energy supplement for anyone who started to receive a pension or allowance after 20 September 2016.
 
This will mean a cut of $14.10 per fortnight to single pensioners or around $365 a year, and a cut of $21.20 a fortnight or around $550 a year to couple pensioners.
 
Over the next decade the Turnbull Government’s cut will hit 1.5 million age pensioners.
 
Australia already has higher income inequality than the OECD average, and the Turnbull Government’s planned cut to the pension will only make it worse.
 
It shows just how out of touch the Turnbull Government is – cutting the age pension for 1.5 million Australians to give $17 billion to the big banks.
 
A Shorten Labor Government will reverse this cruel cut.