New Appointment to Payments System Board
May 26, 2000Proposed Acquisition of Colonial Limited by the Commonwealth Bank of Australia
May 30, 2000
NO.043
Labor Admits Real Increase in Pensions
The Labor Party has now conceded that pensioners will be better off in real terms after the introduction of The New Tax System.
Shadow Treasurer Simon Crean has revealed in the Simon Crean GST Information Kit that “The real increase in the pension will therefore be two percent ”
A real increase is one which takes into account cost of living changes. A real increase means that pensions rise over and above inflation, leaving pensioners better off after price rises.
The Government welcomes the acknowledgement of the Labor Party that pensioners will be better off in real terms as a result of the introduction of The New Tax System.
CANBERRA
29 May 2000