Labor has a major stimulus package in store, with an increase to the minimum wage, new job guarantees, a new childcare tax credit and more.
What you need to know about it.
Key points:The government has announced a range of measures for workersThe announcement comes as the budget comes outThe government is offering a range for workers to get a boostThe ABC understands the changes will affect everyone who works for the Commonwealth, including the Commonwealth Bank, the Reserve Bank, and many government agencies.
Workers in some industries could see their wages cut, while those in some other industries could lose out.
The federal government has confirmed that a number of measures will be introduced over the coming months, including an increase in the minimum salary to $19.70 an hour.
But the government says that will not affect everyone.
For those with full-time jobs, the maximum wage will increase from $19 an hour to $21.70.
For people working part-time, the minimum hourly rate will increase to $11.70, but the minimum will remain the same.
What you need now:A guide to what’s on the agendaThe Budget is a major milestone for the government and for the Australian economy.
It comes just weeks after the Prime Minister announced a raft of new measures for businesses, including:a new $100-billion boost to employment insurance (IWA)and a $100,000 tax credit for those with the lowest wages.
But this week the Prime Ministers office has also announced a series of measures aimed at supporting businesses.
The Government will introduce a new $1,000-a-day childcare tax rebate for women, and will also announce $1.5 billion for small businesses, with the promise that $1 billion will be allocated to supporting low-income earners.
The government will also create a new job guarantee, a $30,000 childcare tax benefit, a childcare tax exemption for small business, and a new loan scheme for businesses.
More details are available at the Budget website.
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