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The Senate cross-bench is set to reject the Abbott Government’s planned changes to the Aged Pension, which would have seen the pension linked to the consumer price index (CPI) instead of male average weekly earnings, along with a five-yearly independent review over its adequacy.
According to The Canberra Times, Senators Dio Wang, Glenn Lazarus, Jacqui Lambie and Nick Xenophon all have expressed strong reservations over the plan, whereas senators John Madigan and Ricky Muir are yet to state their positions, and Bob Day and David Leyonhjelm are more receptive.
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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.
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