Nick Sherry (Tasmania, Australian Labor Party, Minister for Superannuation and Corporate Law) Share this | Hansard source

Through you, Madam Acting Deputy President, if that is the case, Senator McGauran, I do not know what your contribution represented to the debate before the chamber. The Economic Security Strategy payment for this group of Australians will be $1,400 for singles, $2,100 combined if both members of a couple receive a qualifying payment and $1,050 if only one of the couple does.

There will be a special Economic Security Strategy payment for people receiving a non-means-tested social security income supplement—carer allowance. People who were receiving a carer allowance on 14 October 2008 will be paid $1,000 for each eligible person in their care. If the carer allowance for one care receiver is shared between two or more carers, the Economic Security Strategy payment will be shared on a similar basis. People who were receiving the carer allowance on 14 October 2008 will be paid $1,000 for each eligible person they care for. If the carer allowance for one care receiver is shared between two or more carers, the Economic Security Strategy payment will be similarly shared.

The Economic Security Strategy payments provided by the Social Security and Other Legislation Amendment (Economic Security Strategy) Bill 2008 will also give immediate financial support to around two million Australian families with dependent children. A payment of $1,000 will be made for each child eligible for family tax benefit part A at 14 October 2008. In addition, $1,000 will also be paid for each dependent child who, at 14 October 2008, was either eligible for or received youth allowance, Abstudy living allowance or an education allowance under the Veterans’ Children Education Scheme or the Military Rehabilitation and Compensation Act. If any of these qualifying payments for families is shared between two people under the usual rules for that payment, the payment will be similarly shared. Families will receive these payments even if the qualifying payment is not actually being received on 14 October 2008 but is later backdated to cover that date. For example, the small number of families who claim their family tax benefit part A annually as a lump sum will receive their Economic Security Strategy payment when their 2008-09 income assessment has been finalised and their family tax benefit lump sum is paid.

The payments made under the bill will not generally need to be claimed. They will not count as income for social security, family assistance and veteran entitlements purposes and will be tax free. The bill also provides for relevant ministers to establish, by legislative instrument, administrative schemes to provide payments in circumstances where the statutory regime does not produce an appropriate result.

The Appropriation (Economic Security Strategy) Bill (No. 1) 2008-2009 provides for an investment of over $117 million to create 56,000 additional productivity job seeker places in 2008-09. This funding will effectively double the places from 57,000 to 113,000 in 2008-09. These new places will take the Rudd government’s total commitment to the program to more than $2 billion, with over 700,000 new training places created over five years. By expanding the Productivity Places Program, the government is building on a program that has already proved its worth. This bill also provides funding to the Department of Veterans’ Affairs to facilitate payments under the Social Security and Other Legislation Amendment (Economic Security Strategy) Bill 2008. Funding will also be provided to conduct a public information campaign to ensure that those eligible recipients for the Economic Security Strategy payment and the first home owners boost are advised about their entitlement.

Appropriation (Economic Security Strategy) Bill (No. 2) 2008-2009 will strengthen the Australian housing market by providing $1.5 billion over two years through the first home owners boost. In addition to the first home owners grant, first home owner-buyers who purchase established homes will receive an extra $7,000 to take their grant to $14,000. First home buyers who purchase a newly-constructed home will receive an extra $14,000 to take their grant to $21,000. The first home owners boost will be available to eligible first home buyers who enter into a contract between 14 October 2008 and 30 June 2009.

The Economic Security Strategy and the measures in these bills show this government’s determination to strengthen the Australian economy and support Australian pensioners and families through the global financial crisis. The Economic Security Strategy will provide a substantial increase in skills and training places, build a stronger Australian housing market and make home ownership accessible to more Australians. I do not think I heard anyone from the Liberal-National Party specifically oppose any of these measures, although it was often very difficult to work out in their contributions whether they were supporting or opposing the appropriation, given the tenor of their comments on this particular legislation. As has been mentioned, we face the most significant financial crisis since the 1920s and 1930s.