Proposals for a Fairer Australia: Immediate Relief and Long-Term Solutions

Amid mounting concerns over the escalating cost of living, particularly among older Australians, the need for tangible relief measures is paramount. According to a recent report by National Seniors, 66% of seniors are troubled by the long-term implications of surging living expenses, with 26% expressing extreme apprehension.

As Australia eagerly anticipates the Federal Budget announcement on 14 May, the urgency of the current budget cycle cannot be overstated. The relentless surge in essential commodities, spanning groceries, fuel, energy, healthcare, and housing, is straining household budgets to the brink of collapse.

However, the burden of soaring living costs is not uniformly distributed. Research underscores the disproportionate impact on various demographic segments, including older Australians with limited incomes, renters, individuals residing in rural or remote locales, singles, and younger seniors.

To mitigate these disparities and alleviate fnancial strain, our budget submission articulates a robust set of measures spanning key domains:

1. Cost-of-Living

Relief: Immediate interventions targeting fuel and energy expenses, coupled with a continuation of the deeming rate freeze, safeguarding pension payments and concessions.

2. Healthcare Accessibility: Advocacy for a Productivity Commission review of private health services to lower premiums and out-of-pocket expenses, alongside enhanced support for dental care among vulnerable cohorts.

3. Housing

Reform: Policy initiatives promoting downsizing options for seniors, bolstering rental assistance, and incentivizing charitable contributions via changes to gifting rules.

4. Aged Care

Support: Calls for targeted exemptions from the Age Pension income test for care sector workers, alongside reforms to facilitate fnancial contributions to charitable causes and younger generations.

By championing these proposals, we endeavour to alleviate the strain of living expenses on older Australians and their families, reaffrming their confdence in government support.

Cost-of-Living

Solutions for Seniors:

1. Cost-of-Living

Rebate: Introduce a rebate program to alleviate infationinduced fnancial strain, particularly for lowincome households. This initiative, modelled after previous electricity bill relief measures, would provide targeted support, with higher rebates for those in greatest need, offering up to $500 in relief per household.

2. Fuel Excise Reduction: Address the exorbitant impact of rising fuel costs by reducing the fuel excise by up to 20 cents per litre. This proactive measure, complemented by a temporary pause in excise indexation, aims to mitigate the cascading effects of fuel price volatility on essential goods and services.

3. Extended Deeming Rate Freeze: Extend the freeze on deeming rates for an additional 12 months to shield pensioners and Commonwealth Seniors Health Card holders from adverse fnancial repercussions. Concurrently, undertake comprehensive reforms to the methodology governing deeming rates, ensuring clarity and stability amidst fuctuating interest rates.