A cynical Scott Morrison has either forgotten or deliberately hid the Governments cuts to pensioners when addressing the Council on the Ageing today failing to even acknowledge them in his speech.
Pensioners didnt come down in the last shower. Scott Morrison should know better than trying to pull the wool over their eyes.
The facts speak for themselves. In every budget, the Liberals have tried to cut the pension.
In 2014 they tried to cut pension indexation a cut that would have meant pensioners would be forced to live on $80 a week less within ten years and would have ripped $23 billion from the pockets of pensioners.
The Liberals cut $1 billion from pensioner concessions and tried to reset deeming rates thresholds a cut that would have seen 500,000 part-pensioners made worse off.
In 2015 the Liberals did a deal with the Greens to cut the pension to around 370,000 pensioners by as much as $12,000 a year by changing the pension assets test.
In the 2016 Budget the Liberals tried to cut the pension to around 190,000 pensioners as part of a plan to limit overseas travel for pensioners to six weeks.
The Liberals still want to make pensioners born overseas wait longer to get the Age Pension by increasing the residency requirements from 10 to 15 years.
For five budgets, the Liberals have wanted to increase the pension age to 70 meaning Australia would have an older pension age than the US, UK, Canada and New Zealand. In the first four years alone around 375,000 Australians will have to wait longer before they can access the pension. This is a $3.6 billion hit to the retirement income of Australians.
Malcolm Turnbull also wants to completely take away the pension supplement from pensioners who go overseas for more than six weeks, which will see around $120 million ripped from the pockets of pensioners.
They still refuse to adjust deeming rates for pensioners. Its been more than three years since the Turnbull Government last lowered deeming rates, and pensioners are paying the price, with current deeming rates now significantly higher than real rates of return. Interest rates have fallen from 2.25 percent in February 2015 to 1.50 percent today, yet Turnbull has refused to do anything.
Labor will also scrap Malcolm Turnbulls planned cut to 1.5 million pensioners, protect the energy supplement and keep money in the pockets of age pensioners. Axing the energy supplement will mean a cut of$14.10 per fortnight to single pensioners or around $365 a year, and a cut of $21.20 a fortnight or around $550 a year to couple pensioners.
Unlike Scott Morrison, Labor isnt afraid to talk about the pension. Because we dont have a plan to cut it.
TREASURER FAILS TO MENTION HIS CUTS TO THE PENSION
26 July 2018