Labor has blasted the Morrison Government’s slashing of deeming rates and says the extra $804 a year for pensioners is “far too little, far too late.”
The government is set to cut deeming rates — used to estimate how much some pensioners earn on their financial investments — for more than 630,000 pensioners and 350,000 people receiving other income-tested payments after weeks of protests.
Deputy opposition leader Richard Marles today said the cuts to deeming rates do not go far enough and were a “slap in the face” to the pensioners.
Read Next
“Pensioners today will feel short-changed. We’ve seen five reductions in the cash rates since the deeming rates last changed,” Mr Marles told Sky News.
“This is the first time deeming rates have moved … It is only a quarter of a per cent. This is far too little, far too late.
“I think pensioners today can feel like this decision is a slap in their face. This is a government which is trying to balance the books on the back on pensioners.”
The deeming rate on the first $51,800 of a single pensioner’s financial assets, and the first $86,200 of a couple’s, will drop from 1.75 per cent to 1 per cent.
The deeming rate for the balance will go from 3.25 per cent down to 3 per cent.
Affected pensioners will receive up to $40.50 extra per fortnight for couples and $31 for singles after the deeming rate cuts.
Social Services Minister Anne Ruston told the Sunday Telegraph her cuts to deeming rates showed the government had listened to angry pensioner groups.
“It will mean more money in the pockets of older Australians,” she said.
“(I have) made it a priority to be thoroughly informed on this issue to make sure that any decision made on deeming rates was appropriate and reflected the current returns on financial investments”.
“The decision shows the Morrison Government has listened to and acted on the concerns expressed by older Australians who receive a part pension.”
Reporter
Canberra
Read Next
Comments
Reader comments on this site are moderated before publication to promote lively, but civil and respectful debate. We encourage your comments but submitting one does not guarantee publication. You can read our comment guidelines here. If you believe a comment has been rejected in error, email comments@theaustralian.com.au and we'll investigate. Please ensure you include the email address you use to log in so we can locate your comment.
Bagikan Berita Ini
0 Response to "Labor blasts slashing of deeming rates as falling short of pensioner demands - The Australian"
Post a Comment