A $250 cash top-up is on the way for people on social welfare payments to help vulnerable Australians with cost of living pressures.
Treasurer Josh Frydenberg will announce the one-off cash payment in Tuesday’s Federal Budget with aged pensioners and low-income families that receive financial support eligible for the bonus.
However, parents on family payments will not be able to apply for the payment.
About 4.6 million Australians currently receive a pension or an allowance from the Federal Government as income support, while many others get cash transfer payments for their families, or may be entitled to concession cards or other assistance.
It is not yet known if the $250 payment will be given to people on a part-pension.
Services Australia is reportedly putting systems in place to pay the money within the coming weeks as Prime Minister Scott Morrison tries to win over voters ahead of the Federal election in May.
It comes after Mr Frydenberg on Thursday told reporters next week’s Budget would ease cost of living pressures for Australians.
“Obviously, it’s been a very trying time for Australians with the pandemic of course and that’s put pressure on the Budget,” he said.
“But this Budget is all about easing the cost of living for families now.”
Earlier this month, the Coalition announced a $20 per fortnight boost to pensioner payments to cover rising inflation.
Higher inflation and the Russian invasion of Ukraine is driving up the price of fuel up to $2.20 a litre as well as other everyday items.
But Mr Frydenberg said relief was on the way.
“What you’ll see in the Budget is a strong and materially improvement to the bottom line. And this is a result of more people being in work and fewer Australians being on welfare,” he said.
“There’s more work to be done. The pandemic is not over. There’s a war in Ukraine and across Europe, and obviously supply chains are very much a big one.”