2016 Mid-Year Economic and Fiscal Outlook

The MYEFO was released yesterday and contains a number of cuts and commitments. Nothing new here as the Coalition continues to blame welfare spending for the deficit (when welfare spending accounts for less than 3% of the budget) and young people for the weak jobs market. YACSA is concerned about the promised welfare crackdown, which includes expanding fraud prevention and debt recovery as well as cutting payments for “non-compliance” and the 4 week wait for young people to access income support – which is still on the table (although the legislation hasn’t been passed). The PaTH program – which was announced in May as part of the Coalition’s “new approach to youth unemployment” – has been cut to fund “budget repair” as have a number of Abbott government initiatives including the Green Army.

Election commitments have been retained including further protections for vulnerable workers and specific funding for “jobs and growth” in South Australia – both of which are welcome. Click on the link below to access information on how the MYEFO will affect you.