Cost of Living Support in the Federal Budget

Cost of living

The federal budget has announced a range of cost of living measures to help support those who most need it here in CQ.

I’ve summarised the key cost of living support that’s been announced:

  • New electricity rebate of $500 for more than 1 million eligible low-income households. The rebates have been funded between the state and federal governments and apply to concession card holders and those receiving the Carers Allowance and Family Tax Benefit A and B
  • $650 electricity rebate for Queensland small businesses that use less than 100 MWh per year will automatically receive the rebate.
  • Tripling Bulk Billing incentives for GPs, delivering free GP consultations for a further 11 million patients. Those eligible include: Children under the age of 16, Pensioners and other Commonwealth concession card holders.
  • Help for renters – Increasing Commonwealth Rental Assistance payment by 15%, equivalent to $31 a fortnight.
  • Expanding access to the Parenting Payment (Single) – 57,000 principal carers across the country on JobSeeker with children aged 8 to 13 will receive an extra $176.90 per fortnight.
  • Targeted support for older job seekers – expanding the existing higher rate of JobSeeker to those aged 55+, equating to an increase of $92.10 per fortnight
  • Increasing the base rate of the JobSeeker Payment, Austudy and Youth Allowance and other income support payments by $40 per fortnight.
  • Cheaper prescription medicines, including allowing people with chronic illnesses to get two months of scripts filled at once. General patients will be able to save up to $180 a year per medicine if prescribed for 60 days, and concession card holders up to $43.80 a year per medicine.
  • Pay rise of 15% for aged care workers – delivering on the promise to increase wages for those who care for our elderly loved ones.

This budget has been described as a practical and responsible budget which helps those most in need without adding to inflationary pressures, and delivering a modest surplus.

These measures from the federal government come in addition to the support that is already being provided by the Queensland government, including rental subsidies for those that need it most, energy rebates and other discounts for pensioners and concession card holders. Find out more here.

You can also take my survey to let me know how the rising cost of living is affecting you. It will help me to advocate on our community’s behalf