The Coalition will seek to rush billions in tax cuts through Parliament as early as Wednesday, as part of its pandemic-era budget, which is spending hugely being criticized for not doing enough for those most affected
« The budget will rack up a trillion dollars in debt, but still not doing enough to create jobs, failing to build for the future and leaving too many Australians behind, » Jim Chalmers said and Katy Gallagher of Labor
Tuesday’s key figures – including $ 213 in deficit of $ 7 billion, gross debt rising to $ 1.16 trillion next year, and an expected unemployment rate of 8% in December – surprised many, but the government maintained a large spending budget was vital to avoid an even greater economic crash
Critical policies include a wage subsidy for employers who hire young people currently on JobSeeker, a one-time tax cut of $ 1,000 for low and middle incomes, a permanent reduction for those with incomes over 100 $ 000 and a big health expense
But critics have already criticized the government for ignoring additional unemployment assistance for the hundreds of thousands who will remain out of work after December, when the coronavirus supplement at JobSeeker is due to end and payment will return to its previous level pandemic rate of $ 40 per day
But despite a number of measures to revive the economy, Mr. Frydenberg has been criticized for shortcomings in critical areas like social housing and homelessness
Opposition shadow Treasury and Finance ministers Dr Chalmers and Senator Gallagher were quick to denounce a lack of social policy vision, saying it would make the current recession « deeper and longer than necessary »
« There is no plan to increase JobSeeker’s permanent rate by $ 40 per day, tackle precarious work, create opportunities for women or improve access to childcare », said the duo
« No plan for social housing, cheaper and cleaner energy, or to tackle the crisis in elderly care No plan to revive the economy, boost productivity, increase participation or lift the growth rate limit «
M Frydenberg said a series of fiscal policies, including tax cuts, changes to the cancellation of corporate assets and funding for research and development, would be introduced in parliament on Wednesday
He said he hopes to pass them quickly, so that tax cuts are in people’s hands as soon as possible
Labor has yet to say whether it will support the bill, but it has already taken the second step of tax cuts in 2018 and has said it supports the general plan
On Monday, Dr Chalmers said Labor was « open-minded to tax cuts for low and middle income workers »
Greens leader Adam Bandt called the government’s plan a « terrible fallout budget » that « spends badly »
M Bandt said the jobs plan did not go far enough and would create « a ‘lost generation’ of young people, while actively worsening the climate crisis »
« JobMaker will fuel precarious and poorly paid work by pumping money into big companies if they hire part-time workers at minimum wage McDonald’s will rub their hands, but it offers no job security to anyone who tries to rebuild their life, ”he said
« Tonight’s budget is a middle finger for the millions of people who are currently unemployed or underemployed, including over half a million young people. Budgets are a matter of choice, and that -this does all the wrong «
Independent MP Zali Steggall said: « It is time to be brave and bold and secure our economic future », but that the budget included « spending on the » status quo «
Outside of parliament, charities and housing organizations have reacted with dismay to the lack of announcements on homelessness and social assistance
Homelessness Australia said the budget slashed funding by $ 41 million and would see « tens of thousands of Australian families » sleeping rough
« Tonight’s Budget is Devastating In a year with huge increases in unemployment creating a spike in rental stress and homelessness, the federal government has chosen to cut funding for homelessness » said President Jenny Smith
« Without an increase in social housing and with even fewer resources for homeless services, many families will remain stuck in homelessness for a long time »
PRESS RELEASE: Federal Budget Reveals Millions of Dollars to be Cut from Vital Services for Homeless People # budget2020 #everybodyshomehttps: // tco / S2YxiQxIbD picTwittercom / KBf2kFAPqm
The budget provided $ 1 billion for « low-cost funding to support the construction of affordable housing, » but economists and advocates had called for funding for some 30,000 new social housing projects – not just for fight against homelessness, but also to create work in construction
Mission Australia claimed there had been a « shocking failure » in tackling homelessness and criticized the « puzzling silence » on social assistance benefits
« Going back to $ 40 a day from 2021 would be a disaster for so many people in Australia, » CEO James Toomey said
« Although the budget leaves a glimmer of hope for youth employment, it is a crushing disappointment for many others without paid work, » she said
Dr Goldie supported the JobMaker wage subsidy, but called for its extension to apply to everyone on long-term welfare, not just those under 35
Claire Victory, national president of the St Vincent de Paul Society, said the budget targets those already in good shape and ignores the plight of low-income Australians and others who don’t pay tax
Adam Bandt, Tax Cut, Australian Greens, Finance
World News – AU – Budget criticized for not helping those most affected by pandemic
SOURCE: https://www.w24news.com
