JobSeeker set to increase for Australians over 55 in upcoming Budget

Ahead of the May 9 Federal Budget (2023 – 2024), JobSeeker payments have been reportedly set to increase for Australians over the age of 55, pending an upcoming announcement.

As mounting calls for an increase to the fortnightly JobSeeker payments have gained traction in the press, Treasurer Jim Chalmers hinted at an increase for those most vulnerable, which Seven News first reported was for those over 55, which The Guardian Australia later verified independently.

This income boost is poised to support over 227,000 people currently receiving the existing ($49.50 dollars for singles) daily rate, which particularly supports women and people who are unemployed long-term.

Finance Minister for Australia Katy Gallagher has said that ongoing support will help to cover cost-of-living, with the budget seeking to set the stage for ongoing boosts in the future to help affordability.

Adequate payments to suit cost-of-living

The Australian Council of Social Services (ACOSS) has highlighted the need for JobSeeker raises to take priority, following the release of a 99-page report from the Interim Economic Inclusion Advisory Committee (IEIAC).

The report showed the budget standards between payments made to Australians eligible for social service systems and the costs of living.

The IEIAC encouraged the Government to recalculate benchmarks and adhere to adequate payment, with the rate of those receiving maximum payment for Commonwealth Rent Assistance on JobSeeker, Age Pension and Disability Support Pension being the lowest of other Government social service programs.

This potential announcement would leave 684,360 on JobSeeker without an increase to existing payments, in a move which The Antipoverty Centre has condemned as “cruel”.

The Centre released a statement, which reads:

“This is a perverse proposal cooked up by self-interested politicians seeking only to neutralise a political catastrophe of their own making.”

“We reiterate our call for the government to increase all Centrelink payments to at least the Henderson poverty line and ensure that no person is living in poverty.”

Measures included in the Federal Budget

At a press conference held in Darwin on May 1, Prime Minister Anthony Albanese said that the government is trying to provide “a comprehensive plan for lifting living standards,” at the upcoming Federal Budget.

“You’ll see a range of other measures in the budget in eight days’ time, which arise from the understanding that we have that people are doing it tough,” he said.

“We’ve had global inflation. So, we need to make sure we keep on top of inflation. But at the same time, we’re doing what we can to provide that relief for people,” Mr Albanese added.

Addressing the IEIAC’s 37 recommendations which were presented to the Government in April, including a 90 percent increase in JobSeeker payments across all recipients, Treasurer Jim Chalmers rejected the proposed call.

“While we can’t fund every good idea, there will be measures in the May budget to address disadvantage,” he said in a statement last month.

“This will include energy bill price relief that prioritises those on payments and pensions.”

Talking Aged Care reached out to South Australian Human Services Minister Nat Cook, who declined to comment on Budget speculation.

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