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Pension increase flagged for next budget

Treasurer Wayne Swan has hinted at a possible boost to the aged pension in next month’s federal budget.

The Federal Government is considering increasing the single aged pension by $20 a week, along with boosting unemployment benefits.

Swan told Network Ten that the Government have recognised there is a problem with the current base rate of the pension and will “deal with it in this budget… in a financially responsible way.”

Opposition leader Malcolm Turnbull has come out saying that the increase is not substantial enough and single aged pension should by raised to two-thirds the level of the couple rate.

“We have argued for some time very strongly that the singled aged pension should be increased to two thirds the level of a couple rate.”

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