New modelling shows that the low income families will be hit hard by the Abbott Government’s second budget.
Modelling by the National Centre for Social and Economic Modelling (NATSEM) in Canberra stated that a family with two children and a single income of $65,000 will be $6164 a year worse off by 2018-19.
The modelling was commissioned by the Labor Party and has not been released in full, despite calls from the Opposition.
(Quintile breakdown by income at end of article)
(NATSEM) Source: (NATSEM)
Speaking in Question Time on Monday, Prime Minister Tony Abbott said the modelling could not be taken seriously until it was released.
“If members opposite want to vindicate the work of NATSEM, release it,” he said.
“Just release it. Why is it that this work of NATSEM needs to be hidden?”
Treasurer Joe Hockey also took aim at the modelling during Question Time, saying he was only given two pages.
"Two whole pages that were going to bring down the 2015 budget!" he said.
"... This NATSEM modelling document that all the media bought, that everyone says is going to bring down the 2015 Budget - I said where did this NATSEM modelling document come from? And the properties indicate the author is Mr Ryan Liddell, Bill Shorten's office."
In a statement, Opposition Leader Bill Shorten said that Mr Abbott had broken his promise “not to hurt families”.
“This is what the Budget papers refused to tell Australians - the true impact on families,” he said.
“… The closer you look, the worse this Budget gets.”
Quintile breakdown by income (couples/children).
(NATSEM) Source: (NATSEM)
- Q1: 0-$47,000
- Q2: $47,000-$59,000
- Q3: $59,000-$83,000
- Q4: $83,000-$119,000
- Q5: $119,000 +
