It is time to Break the Poverty Machine.
Jobseeker at $334 per week, is $161 per week below the Henderson poverty-line (effective 20 September 2022). It is less than 42 percent of the minimum wage, approximately 18 percent of the average wage, and has not been raised in real terms for 25 years.
Groups and representatives from across the political spectrum are now calling for an increase to Jobseeker , including The Australian Council of Social Services (ACOSS), Australian Council of Trade Unions (ACTU), St Vincent de Paul, The Salvation Army, The Anti-Poverty Network, the Australian Unemployed Workers Union (AUWU), Anglicare – even former Liberal leaders like John Howard and John Hewson and the Business Council of Australia (BCA) agree the rate of Jobseeker is too low.
We would like the Jobseeker payment rate lifted to $88 per day. It would only take the following changes to the tables in the Social Security Act where calculation of social security payments are made. In particular reference to jobseeker payments that is section 1068 and change column 3B to $1235.38 and correct the other columns (e.g. couples) with the current multiplier that is in use. Using the existing multiplier the table would read as follows:
What about the $1 trillion plus debt?
The national debt is the number of dollars that have been drained from the banking system over time to maintain the overnight cash rate (the interest rate). It is simply an accounting of the total amount of Australian Government Securities issued to pay interest on money spent by the government that is yet to be taxed.
The RBA could support the overnight cash rate by paying interest on all excess reserves and not sell securities. One reason for selling long-term securities might be to support long-term interest rates.
Australia currently does both. It’s Reserve Bank Act makes it quite explicit that the overnight cash rate is a policy choice.
(3) If the Treasurer and the relevant Board are unable to reach agreement, the relevant Board shall forthwith furnish to the Treasurer a statement in relation to the matter in respect of which the difference of opinion has arisen.
So that’s how the debt really works. As Ross Gittins wrote
“Who said the shortfall between what a government spends and what it raises in taxes must be covered by borrowing from the public? That’s just a rule someone made up.”
SMH May 27, 2022
Breaking the Poverty Machine
Increasing Jobseeker would benefit local economies, by increasing the spending power of those on low incomes, whose extra funds would circulate through local businesses keeping businesses open and creating the very job opportunities jobseekers are seeking.
Given that the average time spent on Jobseeker is more than four years, Jobseeker has become a one-way ticket to poverty for many unemployed people.
Its time to let our people shine and radiate on 88.
Sign the Australian Real Progressives petition at Shine and Radiate on 88!
Australian Real Progressives 