JobSeeker cut to throw 190,000 more people into poverty

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The Australia Institute (TAI) has released a new report arguing that the Morrison Government’s decision to reduce the rate of JobSeeker by $150 from January 2021 will push an additional 190,000 Australians below the poverty line:

On the 10th November 2020 the Coalition Government announced that it was again cutting the coronavirus supplement from its rate of $250 per fortnight to $150 per fortnight. This is due to come into effect in January 2021…

Reducing the coronavirus supplement from $250 per fortnight to $150 per fortnight will push an additional 190,000 people into poverty. This includes an additional 50,000 children aged 0 to 14…

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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.