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Angus Taylor in veterans pension blunder live on Sky News TV

The shadow treasurer falsely claimed that in a train wreck interview, veterans were not given a $4,000 retirement bonus.

Angus Taylor failed to do his homework before attacking the Albanian government in a lengthy diatribe after the measure was announced.

Prime Minister Anthony Albanese’s job summit agreed that seniors and veterans who are retired could earn another $4,000 this fiscal year without losing any of their pensions.

Mr Taylor falsely claimed that military veterans were left out of the one-time boost – although this was mentioned prominently in the announcement.

“They’ve completely excluded veterans, [and] they’ve only gone part of the way with the old age pension,” he told Sky News on Monday.

“Why exclude veterans, I mean that’s extraordinary, this is a great workforce, these people who have these extraordinary skills and yet they are punished by losing 50c in the dollar of retirement if they work extra.”

“Why should we exclude veterans from this? It’s extraordinary.’

Mr Taylor then mixed a metaphor by asking why Labor would ‘chisel’ elderly retirees, before correcting himself by saying he meant ‘nickel and dime’.

‘This is pure economics, [Treasurer] Jim Chalmers shows no proactivity, we haven’t seen any reaction and we need to see it,” he continued.

Interviewer Laura Jayes made Mr Taylor dig a bigger hole when he complained about veterans being disfellowshipped, until she finally straightened him out when he was done.

“Veterans are included,” she said, followed by a very long pause from Mr. Taylor.

Angus Taylor falsely claimed in a train wreck interview that veterans were not getting a $4,000 retirement bonus.

Angus Taylor falsely claimed in a train wreck interview that veterans were not getting a $4,000 retirement bonus.

He finally replied, ‘Um, yes, but how much, did they withdraw the full amount? So it is very important that we see that the entire policy is implemented.’

Jayes reminded him that veterans had pensions, all of which were included in the bonus.

Veterans Affairs Minister Matt Keogh took Mr Taylor’s hand during Question Time and explained the policy to him.

He said he would give Mr Taylor, who sat gloomily in his chair, the benefit of the doubt because “we are mistaken in the direction of incompetence rather than conspiracy.”

“What this means is that a veteran on a service pension can now take any job,” Mr Keogh said after reviewing how the policy worked.

“For example, they might want to work at a local steakhouse, where they can serve the Member for Hume a well-done Angus.”

Veterans were not included in a separate round of pension increases on Monday, but did receive an increase in their benefits through indexation in March.

The maximum single person’s pension rate increased by $20.10 to $987.60 every two weeks, and by $15.10 to $744.40 every two weeks for couples.

Other military retirees, including war widows or widowers and disability benefits, also rose by similar amounts.

Centrelink's allowances and pensions will receive a huge boost under Anthony Albanese's government

Centrelink's allowances and pensions will receive a huge boost under Anthony Albanese's government

Centrelink’s allowances and pensions will receive a huge boost under Anthony Albanese’s government

Other social benefits saw the largest increase in three decades and the largest increase in indexation in 12 years.

Job seekers who are older than 22 and have no children will receive an additional $25.70 every two weeks, while couples will receive an additional $23.40 as of September 20.

Parental benefits will also increase, with singles getting $35.20 more every two weeks and couples getting $23.40.

About 4.7 million people will benefit from the increase as inflation grows at 6.1 percent and is likely to rise to 7.75 percent by the end of the year.

Old age and disability pensions and caregiver compensation will increase significantly, with singles getting $38.90 more every two weeks and couples $58.80.

The maximum retirement rate is increased for singles who receive $1,026.50 every two weeks and for couples who receive $1,547.60.

The treasurer said the increases were key to easing the cost of living.

“That’s why they’re indexed twice a year, and every little bit helps,” says Jim Chalmers.

“This indexation will be particularly high this month as inflation is particularly challenging.”

Treasurer Jim Chalmers said the raises were key to easing the cost of living (photo, Centrelink queue)

Treasurer Jim Chalmers said the raises were key to easing the cost of living (photo, Centrelink queue)

Treasurer Jim Chalmers said the raises were key to easing the cost of living (photo, Centrelink queue)

The consumer price index rose in the June quarter at the fastest pace since mid-2001, with prices for ordinary Australians continuing to rise

A tight rental vacancy market and higher electricity prices caused housing costs to rise by nine percent in the year to June 30.

Transport costs rose by 13.1 percent, while food prices rose by 5.9 percent.

Mr Chalmers admitted that for many people ‘these will still be difficult times’.

“And we know it won’t solve every problem for everyone, but it’s important that we try to make sure those payments are tracked,” he said.

‘That’s what indexation is about. It will be welcome, even though we recognize that it will still be difficult for many people.’

Environment Minister Tanya Plibersek said the increase was more good news for retirees after it was revealed at the jobs summit last week that they could earn an additional $4,000 without affecting their Centrelink payments.

Centrelink Payment Boost

Centrelink benefits will see their largest increase in 30 years, while pensions will also see their largest increase to indexation in 12 years.

Below is a list of how many biweekly payments are set to increase:

Age and Disability Support Pension and Caregiver Payment

Singles: $38.90 ($1,026.50)

Couples: $58.80 ($1547.60)

job seeker

Singles: $25.70 ($677)

Couples: $23.40 ($616.60)

Parental Payment

Singles: $35.20 ($927.40)

Couples: $23.40 ($616.60)

‘That way they can earn some extra money. It’s also important for the economy because we’ve seen skills shortages in so many areas,” she told Sunrise.

“If people can go back and do some work and get rid of some of those skills shortages, that’s good for employers too.”

The acting chief executive of the Australian Council of Social Service, Edwina MacDonald, said more money was needed to help the recipients.

“It’s just a drop in the bucket at the moment and since non-discretionary inflation is higher than the CPI, they’re still going down in terms of what they can currently afford to buy,” she said.

“So right now the job seeker is at $46 a day, the youth allowance is $38 a day, and what we need to bring it up to the poverty line is to raise it to at least $70 a day.”

The increase will be accompanied by a further rise in the cost of living when the temporary fuel tax freeze ends on September 29.

Chalmers has ruled out an extension of the tax cut introduced by former Prime Minister Scott Morrison.

The price of gasoline will skyrocket for Aussie motorists before the end of the month, with those who fill a 60-gallon tank to pay an additional $15 at the pump

The price of gasoline will skyrocket for Aussie motorists before the end of the month, with those who fill a 60-gallon tank to pay an additional $15 at the pump

The price of gasoline will skyrocket for Aussie motorists before the end of the month, with those who fill a 60-gallon tank to pay an additional $15 at the pump

Why are social benefits indexed?

The social assistance benefits are adjusted to the evolution of the Consumer Price Index.

The process is known as indexing and ensures that the payments maintain the same purchasing power when the cost of living rises.

The rates for JobSeeker Payment, Parenting Payment Partnered and Special Benefits are adjusted each year on March 20 and September 20.

The same applies to the old-age pension, the service pension, the invalidity pension and the informal care allowance.

The youth benefit and the Austudy rates are only adjusted once a year, usually on 1 January.

“It would be too expensive to continue that reduction in gasoline prices indefinitely,” he said.

“I think Australians understand that we’ve inherited a budget that’s crawling with Liberal Party debt and that means some tough decisions, including this one.”

Nationals MP Barnaby Joyce said the abolition of the fuel tax would only hurt more for families already struggling to make ends meet.

“Well, we see a lot of pressure on the cost of living, and we know that at the end of the month the fuel tax will go away and a lot of those increases will be swallowed up in just one item alone – fuel increases,” he said.

“We know it’s a period of inflation and interest rates will also rise and so there’s real pressure on people and they need them – unless you want them to live in poverty, they need to be supported.”

WHY WILL FUEL BE MORE EXPENSIVE?

As of September 29, the government will stop its fuel tax program, which cut the fuel tax from 44 cents to 22 cents.

The 50 percent cut cost taxpayers $3 billion.

The fuel assistance program was introduced in March to help combat the cost of living crisis as gasoline prices soared after Russia’s bloody invasion of Ukraine.

But the six-month period will soon come to an end and the government of Anthony Albanese will raise the tax again.

Families if you fill up on two cars once a week, you’ll pay about $30 more a week, or an extra $700 over six months.

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