The federal government will reveal a multibillion-dollar cost blowout from its stage three tax cuts in next month’s budget
as it scrambles to find extra funding for single parents and increased rent assistance., which are enjoying soaring profits after the war in Ukraine, as a revenue-raising measure.
Over the four-year budget forward estimates they were set to cost $43 billion, a figure that will rise because of wage growth, low unemployment and the inclusion of an extra year of the tax cuts. Gallagher said the Expenditure Review Committee was considering changes to the single parenting payment and Commonwealth rent assistance, two of the taskforce’s six key recommendations.
Under changes introduced by the Gillard government, the single parenting payment ends when children reach age eight, rather than 16, and parents are pushed onto the JobSeeker payment, which is around $100 less a week.
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