Deloitte: Newstart needs a new lease on life
Deloitte continues to back an increase in Newstart. David Rumbens of Deloitte Access Economics in Australia puts a case for increasing in The Weekly Economic Briefing.
'At under $39 a day for a single person, Newstart allowance (unemployment benefits) is far from generous. Even taking into account the full rate of rent assistance and the energy supplement, that amount only rises to $49 (it’s even less generous for those who are on youth allowance). This compares to $75 a day for a single pensioner, $89 for a full-time worker on the minimum wage1,2 or $135 for someone on average earnings.'
David Rumbens is a Partner within Deloitte Access Economics. He is a macroeconomist with extensive experience in applied economic and quantitative analysis of the Australian economy, along with considerable experience in labour market analysis.