Today we are releasing the Economic Inclusion Advisory Committee's second report as well as a progress update on the Albanese Government's actions to tackle disadvantage in our community.
The Committee's advice is an important input to the Government's considerations ahead of the May Budget. We are already acting on many of the issues outlined in the report.
The separate progress update outlines the Government's investments so far to support economic inclusion and provide support to some of the most vulnerable in our community.
This includes the changes announced in last year's Budget to boost JobSeeker and other working age and student payments, increase maximum rates of Commonwealth Rent Assistance by the most in 30 years, and expand eligibility for Parenting Payment Single. Together these changes amount to a permanent increase in the social safety net of around $2.5 billion a year.
The Albanese Government has also committed more than $25 billion in new housing investments over the next decade and will continue to work closely with all levels of government to ensure more Australians have a safe, secure and affordable place to call home.
We are supporting economic inclusion on multiple other fronts, including by expanding Paid Parental Leave, providing more funding for frontline services and community support, and backing wage increases for low-paid workers.
From 1 July, Labor's tax cuts will provide relief to around 2.9 million Australians with incomes under $45,000, who would have received nothing under the Coalition's plan. Around 690,000 income support payment recipients will benefit from the tax cuts.
We will always do what we can for people where it is responsible and affordable, and weighed up against other priorities and fiscal challenges.
The independent report from Economic Inclusion Advisory Committee includes 22 recommendations, covering issues including the adequacy of working age payments, Commonwealth Rent Assistance, removing barriers to employment and employment services reform, support for families and children, and the culture, purpose and intent of the social security system.
The Committee reflects the Government's commitment to hear from experts, stakeholders and the community.
While we can't fund every good idea and everything we would like to do, our record shows we have delivered responsible budgets as well as helping people doing it tough.
The Albanese Labor Government is working to build a stronger, fairer and more inclusive society, where more Australians have the chance to contribute and share in our economic success.
