On the same day reports show the Prime Minister is refusing to collect a fair return for the sale of Australia’s finite gas resources, the Economic Inclusion Advisory Committee finds one million Australian children and young people are living in poverty.
In its fourth report since being established in November 2022 following negotiations with Senator Pocock, the Economic Inclusion Advisory Committee Report released today has found that 3.6 million Australians are living in poverty, including 1 million children and young people - and that these rates have not shifted substantially over the past decade across both Labor and Coalition governments.
Increasing the rate of working age payments like JobSeeker, tying single parenting payment to the age pension, substantially lifting the Remote Area Allowance, lifting Commonwealth Rent Assistance and reforming the child support scheme are among the Committee’s top priority recommendations for addressing poverty in Australia, particularly among children and young people.
Senator Pocock commended the Committee for their ongoing expert work and analysis and urged the Prime Minister to implement a 25% tax on gas export revenue, so his government can undertake the long overdue work of lifting Australia’s children out of poverty.
“Months into the current Middle East Crisis the Albanese Government still hasn’t taken any meaningful action to support the most vulnerable in our community. These are the people who are least able to cope with increased cost of living as a result of the fuel crisis,” Senator Pocock said.
“We’ve seen the Prime Minister jump to the defence of multinational gas companies while ignoring the needs of the most vulnerable Australians, including the tens of thousands turning to food pantries for the first time.
“Australia should be proud of the safety net we provide to those who have fallen on hard times and help them to build a better life rather than condemning them to economic and social exclusion.
“The modelling the Committee has commissioned as part of this report shows that with additional revenue for fairer taxation we could easily lift more people out of poverty.”
“A 25% tax on gas export revenues would raise an estimated $17 billion annually. Lifting income support to 75% of the aged pension, which the Committee has recommended, would cost just $1.6 billion, and would ensure that children in those households have a shot themselves at being Prime Minister one day.”
The report also continues previous calls for an official measure of poverty, commitments to a timeframe for a new employment services program to replace the broken targeted compliance framework and the persistent social exclusion faced by those experiencing deep and persistent disadvantage.