More than 1 million self-funded retirees will be given extended relief on their superannuation savings, and pensioners could be included in a one-off, $250 bonus scheme to assist with the cost of living.
is supposed to provide some relief from the rising cost of living while simultaneously not putting undue pressure on inflation and interest rates, so as to avoid making the cost of living worse.
At a substantial cost to the budget, pension rates will be indexed on March 20 with the single pension to increase by $20 a fortnight to $987.60 and the pension for a couple to increase by $30.20 to $1488.80 a fortnight.With the government trying to embark on budget restraint, sources said the cost of living focus would muddy that message.
Whoever wins the federal election in May will face 15 years of deficits and the need to find savings of $40 billion a year in the next few years,Support to get on with reigning in the debt and deficit was highest among business owners and people aged 25–29 . Just 14 per cent of respondents said now was not the time to repair the budget, while 20 per cent were not sure.
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