The Morrison government’s 2019 Budget has been criticised for making life harder for those already doing it tough.
“Families face cost of living pressures. And every one of us wants to see wages growing faster. But let me be clear: the answer to these challenges is not higher taxes. The answer is a stronger and more competitive economy, with lower taxes and more jobs,” said Treasurer Josh Frydenberg.
The real impact of this budget will see single mothers, women over 50, and women already financially marginalised, worse off than ever.
The Treasurer has announced a budget built on tax cuts, however these tax cuts offer the most benefits to people who already have the most, with people on the lowest incomes receiving nothing. It’s as if those members of our community who are really struggling have been completely forgotten.
This is what the tax cuts will look like:
● People earning $200,000 will get over $224 a week.
● People earning $50,000 will get $23 a week.
● People earning $25,000 (on pensions) get a one-off payment of $75 (equivalent to $1.40pw).
● People earning $15,000 (on Newstart) receive nothing.
None of the tax cuts benefit people on the lowest incomes, as one third of households, including low-paid workers, pensioners and people looking for paid work, do not have enough income to pay tax.
While we welcome the announcement of $328 million invested in initiatives to address domestic and family violence, we are seriously concerned that the financial resilience of women fleeing domestic violence doesn’t appear to have been addressed. These women are often financially isolated, and tax cuts aren’t going to change that.