Women Still Underrepresented in High-Level Positions

A re-elected NSW Liberals and Nationals Government will take a proactive approach to tackling deadly cancers affecting women by providing $7 million in research grants for ovarian and other gynaecological cancers. This will include the provision of a $5 million Translational Research Grant and four $500,000 fellowships to support research and pave the way for without intervention the gender super balance will persist for at least the next four decades. To improve equity in the system, the government should take action to combat unpaid super, pay super on Commonwealth Parental Leave Pay, and increase the Low-Income Superannuation Tax Offset so it aligns with income tax brackets. Unpaid super is depriving millions of women the early contributions needed to build a decent nest egg. In 2019-20, one in fve women were affected by unpaid super, missing future improvements to treatments. Premier Dominic Perrottet said this will help to bring attention to two of the most deadly cancers affecting women.

“We want to give women affected by these terrible diseases, which often have very poor prognoses, the best chance of survival,”

Mr Perrottet said. “These grants are important in enabling the very best researchers to continue their work to help improve survival rates for these awful cancers. “The better we can understand these deadly diseases, the better we can tailor treatments for women and improve their chances of being able to overcome out on a total of $1.3 billion in employer super contributions. Over the last seven years, women missed out on $10.8 billion. About a third of women in their 20s earning less than $50,000 have been short-changed. By the time they retire, women can miss out on more than $40,000 in super savings due to these missing contributions and the lost compounded returns. A key driver of the unpaid super problem is that super payments are misaligned with wages. Mandating the payment of super with wages them.” Health Minister Brad Hazzard said gynaecological cancers vary in prevalence and can have very poor prognoses. “For ovarian cancer specifcally, just over half (51 per cent) of women diagnosed will not survive fve years. This is a tragic statistic we need to turn around and by investing in research we can try to achieve this,” Mr Hazzard said.

“Translational research helps us understand how innovations may work in the real world and on a large scale and aims to quickly bring these new ideas from benchtop to bedside and improve outcomes for patients.” now will beneft women immediately and is cost neutral to the Budget. This will ensure that women are not missing out on any super contributions. In addition, paying super on the government’s Commonwealth Parental Leave scheme would add an extra $14,500 at retirement for a mother of two. This would help to close the gender gap in retirement savings, and ensure that women are not disadvantaged when taking time off to care for their children. Finally, increasing the LowIncome Superannuation

Minister for Women and Regional Health Bronnie Taylor said the $7 million in additional funding will bring new hope for women suffering from cancers of the female reproductive system. “Fellowships fund researchers to continue their important work at an early-middle stage of their career, ensuring we maintain a pipeline of world-class researchers right here in NSW,” Mrs Taylor said. “By investing in early-mid career researchers with a focus on gynaecological cancers, we aim to accelerate the journey toward potential new treatments and interventions for these

Tax offset to align with tax brackets and the rising super rate would beneft 900,000 women – many working part time. This would help to ensure that women on lower incomes are not disadvantaged when it comes to retirement savings. Overall, these measures would help to close the gender gap in retirement savings, and ensure that women are not disadvantaged when it comes to their super.

It is essential that the government takes action to ensure that women are not missing out on their deadly women’s cancers.”

In addition to the research grants, the NSW Liberals and Nationals Government will also be investing in preventative measures to reduce the risk of gynaecological cancers. This will include the provision of free cervical screening for all women aged 25-74, as well as free ovarian cancer screening for women aged 45-74. This will provide women with the opportunity to detect any potential issues early, and take the necessary steps to reduce their risk of developing gynaecological cancers. The Government will also be providing education and awareness campaigns super contributions, and that they have the same opportunities as men when it comes to retirement savings.

To improve equity in the system the government should:

• Combat unpaid super by mandating that super is paid on payday,

• Pay super on Commonwealth Parental Leave Pay, to ensure that women are informed about the signs and symptoms of gynaecological cancers, as well as the importance of regular screening. This will help to ensure that women are aware of the risks and can take the necessary steps to reduce their risk of developing these deadly diseases. By investing in research, preventative measures, and education and awareness campaigns, the NSW Liberals and Nationals Government is taking a proactive approach to tackling deadly cancers affecting women and giving them the best chance of survival.

• Increase the LowIncome Superannuation Tax Offset so it aligns with income tax brackets.

Mortgage holders have been dealt a blow, according to the latest Housing Affordability Report from the Real

Estate Institute of Australia.

REIA President, Hayden Groves said the report found housing affordability declined across the nation over the December quarter 2022, with the proportion of income required to meet the average loan repayment increasing to 44.7%, an increase of 2.4 percentage points.

“New South Wales had the highest decline with the proportion of income increasing 3.1 percentage points and the Northern Territory had the lowest decline with the proportion of income rising 1.1 percentage points,” he said.

“Rental affordability improved with the proportion of income required to meet median rent decreasing by 0.1 percentage points to 22.9%. Rental affordability improved in all states and territories, except South Australia and Western Australia, where it declined.”

First home buyers reduced in number by 2.2% over the quarter but decreased 31.4% over the year.

The average sized home loan increased to $600,343 over the quarter. Mr Groves said nationally, the proportion of income required to meet the average loan repayment had increased, but at different rates across the states.“New South Wales had the highest decline with the proportion of income increasing 3.1 percentage points to a huge 54.8% and the Northern Territory had the lowest decline with the proportion of income increasing 1.1 percentage points to 32.2%,” he said.

“Rental affordability improved with the proportion of income required to meet median rent decreasing by 0.1 percentage points to 22.9%.

“In particular, the median rent remained stable in Sydney and only went up $5 in Melbourne. These markets account for 60% of the national rental cohort. The primary factor in this improvement was the increase in family income.

“Times remain tough for frst home buyers with the number of frst home buyers dropping to 25,753, a decrease of 2.2% during the quarter and a fall of 31.4% compared to the December quarter 2021.

“The total number of loans for owner occupied dwellings decreased in all states and territories over the December quarter. Decreases ranged from 1.6% in Western Australia to 9.4% in the Australian Capital Territory and the Northern Territory,” he said.