Original article by David Uren
The Australian – Page: 2 : 18-Sep-18
Chris Richardson of Deloitte Access Economics notes that Australia has one of the highest minimum wage rates in the world, yet its unemployment benefits are among the lowest. Modelling undertaken by Deloitte on behalf of the Australian Council of Social Service has concluded that increasing the Newstart payment by $75 per week would boost the economy by around $A4bn overall, despite an initial cost to the Budget of $3.3bn a year. The Newstart payment has not changed in two decades when accounting for inflation.
DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIAN COUNCIL OF SOCIAL SERVICE