Economic Inclusion Advisory Panel established to advise on federal budgeting

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A broad range of stakeholder groups and advisers will give the government guidance as a part of a new Economic Inclusion Advisory Panel announced by federal treasurer Jim Chalmers this week.

The committee will be a sounding board for the government before each federal Budget, with policy settings, systems and structures, and the adequacy, effectiveness and sustainability of income support payments being the key issues on which guidance will be sought.

Treasurer Jim Chalmers said the committee will help inform Budget planning.

“As a Labor Government, we will always work to support the most vulnerable in our society,” Dr Chalmers said.

“We want to create a society where everyone has the opportunity to contribute and Australians aren’t left behind.”

The panel’s findings will be made publicly available a fortnight before the federal Budget, but the findings will not be binding.

ACOSS chief executive officer Cassandra Goldie welcomed the introduction of the panel.

“This is an important step to recognise the structural issues in our income support system that entrenches poverty and disadvantage, and we congratulate the Albanese Government and Senator Pocock for securing this historic outcome including the agreement to legislate this process,” Goldie said.

“We welcome the government’s commitment to hear from the experts on these issues in the lead up to May 2023 and future budgets. Importantly, this should include the voices of people who are experts by experience, people with direct experience of poverty and income supports.”

Goldie noted that the level of existing payments causes people to choose between life’s essentials.

“We know the inadequacy of these payments forces people to go without food and without essential medicines, and that an adequate increase to income support payments is needed urgently right now,” Goldie said.

“People on JobSeeker and other income support payments are suffering poor health, losing their homes, and going without other basic goods and services because no one can survive on $48 a day.  We cannot let this continue now, and we cannot end up here again.”

St Vincent de Paul Society national president Claire Victory also voiced support for the new body that is set to provide feedback on the adequacy of welfare.

“The Society commends the Albanese Government and Senator Pocock for the historic agreement to establish an independent, legislated panel to review and publish advice to government before each federal budget on ways to increase economic inclusion and the adequacy of income support payments,” Victory said.

“The incorporation of independent advice on economic inclusion and income support payments into the budgetary process is a significant step forward and will give hope to many of those on Australia’s brutally low-income support rates that entrench poverty and disadvantage almost a million Australians.”

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