Merry Christmas, all you folks taking care of children or the elderly. Your help is, well, not actually appreciated that much at all apparently.
“While the national affairs rollercoaster roared around the fate of Holden and amplified everyone’s feelings on an imminent post-industrial Australia, the Coalition set about unloading two pre-Christmas nasties – it proceeded to withdraw and redirect funds set aside for wage increases for childcare workers and aged care workers. Merry Christmas folks.
The development this week followed an earlier decision to get rid of the low-income superannuation contribution scheme, which provided a concession for workers on $37,000 a year or less. Despite the imperative of finding budget cuts to ensure long-term fiscal sustainability, the Coalition has retained the generous superannuation tax concessions for high-income workers, including of course, for politicians, some of whom are still on the rolled-gold pre-2004 parliamentary super scheme.
The practical effect of the policy shift is that Australia’s lowest paid workers will be punished for saving for their retirement – which presumably makes them more likely to end up having to rely on the pension. Quite apart from the obvious inequity, it’s poor policy. The roiling news cycle largely swallowed that one too – it pretty much sank without trace.”