Time to get back to work: PM

Original article by Geoff Chambers
The Australian – Page: 1 & 4 : 18-Sep-20

The federal government will introduce stricter mutual obligation rules for JobSeeker recipients as part of its push to get more people into the workforce. The unemployed will have to apply for up to eight jobs a month from 28 September; this had been reduced to just four jobs per month in August, compared with 20 prior to the coronavirus pandemic. However, mutual obligation requirements will remain suspended in Victoria for the time being. The government will also require JobSeeker recipients to accept any offer of ‘suitable work’, while the ‘work-for-the-dole’ program will resume.

CORPORATES

Australia’s jobless benefits will be among worst in OECD after Covid supplement cut

Original article by Luke Henriques-Gomes
The Guardian – Page: Online : 8-Sep-20

The federal government will reduce the COVID-19 supplement by $300 a fortnight on 25 September. Analysis conducted by Professor Peter Whitford from the Australian National University contends a low-paid worker who has lost their job during the pandemic will receive the third lowest unemployment benefit in the OECD when the supplement is reduced. Whitford uses what is known as the ‘replacement rate’ in his analysis; it compares unemployment and housing benefits with the wage a person was earning in their last job.

CORPORATES
AUSTRALIAN NATIONAL UNIVERSITY, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Government payments outweigh wage slump

Original article by Matthew Cranston
The Australian Financial Review – Page: 4 : 29-Apr-20

New figures from the Commonwealth Bank of Australia highlight the impact of the coronavirus on the labour market. Its analysis shows that there has been a 50 per cent increase in the number of CBA bank accounts that are receiving JobSeeker payments. Senior economist Gareth Aird says the increase in government benefits that have been paid since the onset of the pandemic has been greater than the fall in wages and salaries paid into CBA accounts to date. Meanwhile, CBA expects the savings rate to rise significantly in the June quarter.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Poor Barnaby struggling to get by on $280k

Original article by Greg Brown
The Australian – Page: 6 : 30-Jul-19

Former deputy prime minister Barnaby Joyce has been criticised after he claimed that he is finding it hard to get by on his parliamentary wage, and for linking his circumstances to people on the Newstart allowance. It can be revealed that Joyce’s total remuneration is $280,000 a year, while people on Newstart are paid as little as $40 a day. Joyce has called for Newstart to be increased, while he told a newspaper that having his pay reduced in 2018 after he lost the deputy prime ministership, on top of the costs of his marriage breakdown, meant that the money he is now getting "is spread so thin".

CORPORATES
ONE NATION PARTY, NATIONAL PARTY OF AUSTRALIA

Newstart review will go beyond adequacy of dole

Original article by Andrew Tillett
The Australian Financial Review – Page: 9 : 13-May-19

Opposition Leader Bill Shorten says he does not intend to pre-empt the findings of the review of Newstart that Labor will conduct if it wins the federal election, and that the review will not just be about increasing the dole. A study commissioned by the Australian Council of Social Service in 2018 concluded that increasing the dole by $75 a week would cost taxpayers $3.3 billion, but that it would deliver $4 billion in economic benefits. ACOSS CEO Cassandra Goldie contends that people on Newstart are the "real victims of growing inequality in Australia".

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN COUNCIL OF SOCIAL SERVICE, DELOITTE ACCESS ECONOMICS PTY LTD

Greens in push to slug rich to boost the dole

Original article by Adam Creighton
The Australian – Page: 2 : 30-Oct-18

Greens leader Richard Di Natale will announce plans to impose a minimum tax rate of 35 per cent on earnings in excess of $300,000 a year. The proposal, which has been costed by the Parliamentary Budget Office, would raise around $10.5 billion a year, with the funds raised to be used to increase unemployment benefits by $75 per week. The Greens are also seeking to revive Labor’s failed super-profits tax on mining companies.

CORPORATES
AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY

Dole rise costly, good for economy

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.

CORPORATES
DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIAN COUNCIL OF SOCIAL SERVICE