Cruel Coalition targets unemployed for budget cuts

Monday, 31 July 2023

The Albanese Government announced in the May Federal Budget that the base rate for working-age and student payments would be raised by $40 per fortnight beginning in September 2023.

This raises JobSeeker’s daily payout to $56.10 and will remain around 50% below the poverty line.

For context, people earning the minimum wage and working full-time survive on around $120 a day.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.