Everyday Aussies have entered the new year up to $30,000 poorer due to a rampant cost-of-living crisis.
But the Albanese government has today announced a new package to alleviate pressures on one group of people – new ‘priority’ apprentices and trainees.
People entering the workforce in a select 19 industries may be eligible for an additional $10,000 over the duration of the apprenticeship in an attempt to boost numbers in crucial industries.
Ambulance officers, furniture makers, pharmacy technicians and nursing support workers are the big winners out of the commitment, announced by Skills and Training Minister Brendan O’Connor.
In addition to the payment for the apprentice, employers may receive an additional $15,000 over the life of the apprenticeship.
People entering the workforce in a select 19 industries may be eligible for an additional $10,000 over the duration of the apprenticeship in an attempt to boost numbers in crucial industries
Ambulance officers, furniture makers, pharmacy technicians and nursing support workers are the big winners out of the commitment, announced by Skills and Training Minister Brendan O’Connor
Mr O’Connor said he hopes the cash incentive will help to develop ‘the skilled workforce our economy needs in priority areas now and into the future’.
‘The occupations on the list are based on hard evidence drawn from public and private data, that has been analysed by Jobs and Skills Australia,’ he said.
‘The work carried out by Jobs and Skills Australia is imperative to determine what skills are needed today and what skills will be needed to future-proof Australia.’
Loan comparison service RateCity revealed average mortgage interest costs soared to $69,700 in 2023, up from just under $42,000 in 2022, based on a $1.12million loan – 80 per cent of the median 2022 Sydney house price of $1.4million.
RateCity research director Sally Tindall told the Daily Telegraph ‘each hike isn’t like getting hit with a one-off parking fine, or a broken hot water heater, or even the yearly rego renewal.
‘It’s an extra expense people must pay, month after month, after month.’
It is getting harder and harder to find a rental property in Australia (a line to view an apartment in Bondi is pictured), as interest rates soar and homeowners charge more
In addition to the rate rises, electricity costs have soared, as have grocery bills and petrol prices.
Some relief is due to come in 2024 with the stage three tax cuts.
And the government’s latest announcement expanding the Australian Apprenticeship Priority List is a measure which Prime Minister Anthony Albanese hopes will further alleviate pressures.
In a statement, a spokesperson for the department said: ‘These payments are aimed at encouraging apprentices and trainees to pursue work in areas of skills shortage, complete their training, and go on to have successful long-term careers.’
Additionally, a series of fortnightly Centrelink payments – including Youth Allowance, Austudy, Abstudy, the Disability Support Pension and the Carer Allowance – will jump as part of an annual indexation adjustment benefiting 936,000 Australians.
These recipients are getting a big boost, above the most recent inflation rate, as the Reserve Bank’s inflation-busting rate rises hit middle-aged home borrowers battling higher mortgage repayments.
The Youth Allowance for teenagers under 18 living at home is going up by $22.40 to $395.30 a fortnight – in line with the Abstudy rate for those of the same age.
Those living away from home and who are studying, aged 18 to 24, will see their Youth Allowance or Austudy payment rise by $36.20 to $639.
The Youth Allowance covers those who are aged 16 to 21 and looking for full time work, those aged 18 to 24 studying full-time and those aged 16 to 24 doing an apprenticeship.
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The Carer Allowance is increasing by $8.70 a fortnight to $153.50, while apprentice nursing support workers will be eligible for an additional payment
The Disability Support Pension for those under 18 living at home is rising by $31.10 to $548.80.
Those aged 18 to 20 are getting a $34.50 boost, taking it to $608.70.
Australians with a disability living independently will see their payments rise by $44.90 a fortnight to $792.50.
The Carer Allowance is increasing by $8.70 a fortnight to $153.50.
The 6 per cent boost is more generous than recent inflation figures – the September quarter inflation rate was 5.4 per cent and October’s monthly rate was 4.9 per cent.
Social Services Minister Amanda Rishworth hailed the six per cent welfare boost that will help 936,000 people.
‘Australia’s social security system is a safety net that is continually strengthened and improved to support all vulnerable Australians,’ she said.
‘Through regular indexation, our payments are adjusted in line with changes in the cost of living to retain their purchasing power.’