Tim Storer (SA, Independent) Share this | Hansard source

The level of Newstart has not increased for a quarter of a century, leaving some jobseekers to live in poverty without money for the clothes or the bus tickets that they need to try to get work. As long ago as 2012 the Business Council of Australia argued that Newstart may now be so low as to represent a barrier to employment for people wanting to get into the workforce. The profoundly inadequate level of Newstart one of the key reasons that I opposed the government's company tax cuts, seeing better use of government revenue. The Deloitte Access Economics' report of yesterday puts the direct cost to the budget of increasing a range of benefits related to Newstart at $3.3 billion a year, but the prosperity dividend would see the Australian economy grow by $4 billion a year.

In my own state of South Australia, an increase of $75 a week would increase consumption by $333 million. I urge the government and act now.