Millions of Aussie parents to be handed new $150 cash bonus – here’s what you can use the money on
Millions of Aussie Parents Get Another $150 Cash Bonus – Here’s What You Can Use The Money For
Parents in NSW will receive $150 per child to purchase school supplies for their children, treasurer Matt Kean has announced in the budget.
The vouchers, the Back to School Grant, will cost taxpayers $193 million.
Mr Kean said the vouchers would help reduce the rising cost of living after inflation hit 5.1 percent in the March quarter.
Parents in NSW will receive $150 per child to purchase school supplies for their children, treasurer Matt Kean has announced in the budget. Pictured: Prime Minister Dom Perrottet
How does the coupon work?
Parents get $150 per child to spend on uniforms, shoes, textbooks, or stationery.
They can spend the voucher for term one next year using the Service NSW app.
“Inflation is high around the world due to global supply chain restrictions and the economic disruption caused by the pandemic.
This has been exacerbated by Russia’s illegal invasion of Ukraine.
“We understand that rising inflation is not just a statistic, it is something that affects the daily household costs of millions of Australians and reduces what they can afford,” he said.
“We are helping families with a $150 back to school voucher per child to help with the cost of school supplies for next year.”
The move is part of $15.9 billion in budget commitments for early childhood education.
The focus of the budget’s education initiatives has been the investment of billions of dollars in early childhood education, including $1.4 billion over four years to provide affordable preschools across the state.
Other early learning measures were $281.6 million above forward estimates to increase the number, quality, and retention of early childhood educators and teachers, and $112.2 million for developmental controls in preschools.
There was also $37.9 million to boost before and after school care and $24.7 million to support and mentor early childhood education and care providers.
Mr Kean said the government understood that ‘a good education can push one up the ladder of opportunity’.
“We know that the first five years of a child’s life can prepare them for success in school and beyond. Ninety percent of a child’s brain development takes place in these years,” Kean said in his budget speech on Tuesday.
“The reality is that the lives of our children – and the NSW that our children are building – will be brighter because of the one-time investment we decide to make today.”
The government said long-term budget commitments in the area include up to $5 billion to establish an accessible and affordable childcare fund, $5.8 billion to establish a universal kindergarten year and $53.4 million to plan the plan.
Education and Early Education Minister Sarah Mitchell said the measures showed NSW is leading the country in early childhood education.
“Investing in early childhood is one of the most important things we can do to give children the best start, a smoother transition to school and a lifetime of opportunity,” Ms Mitchell said in a statement.
Other educational commitments included increased funding for skills, training and school improvements, increased funding for evidence-based initiatives in schools, and $478.2 million for the modernization of nine public schools in Sydney’s southwest.
The government has already announced that the training will remain free for those in high-demand industries, costing $82.7 million over four years.
NSW budget: the key figures
NSW should be back in the black in 2024/2025, with treasurer Matt Kean predicting the prospect of a turnaround as the state recovers from the effects of COVID-19 and devastating flooding.
The NSW government handed over its budget for 2022/23 on Tuesday, confirming a profit of $16.6 billion and forecasting a deficit of $11.3 billion for the next 12 months.
The deficit for the current year is an improvement from the half-year forecast, which predicted the state would be $19.5 billion in the red.
The government said record low unemployment and strong consumer and business spending had prompted the budget upgrade, despite pressures from the COVID-19 Delta and Omicron waves and the flood crisis in the northern state earlier this year.
It predicted that the green sprouts would have the budget back in the dark again by 2024/25, when a $601 million surplus was forecast, followed by $1.4 billion the following year.
The budget documents forecast a 4.25 percent increase in NSW’s gross state product or output in 2022/23, after growing 1.5 percent in 2021/22.
Net debt for 2022/23 was forecast at $78.2 billion and $93.7 billion in the next fiscal year, before soaring to $105 billion in 2024/25.