Media Release by The Hon Jenny Macklin MP

Pensioners beware Tony Abbott

Today the Opposition finally came clean on their plan to claw back pension increases from Australia’s 3.4 million pensioners.

Under Labor, pensioners will receive a net increase in their pension over and above any impact of the carbon price. Joe Hockey has confirmed the Liberals will claw all of this increase in pension payments back, leaving all pensioners worse off under a Coalition Government.

The Shadow Treasurer, Joe Hockey, revealed on Radio National this morning that a Coalition Government will rip away these pension increases.

“We will not be in the business of offering compensation…” Mr Hockey told Fran Kelly when asked if the Coalition would rip away pension increases.

That means 3.4 million pensioners will lose about $338 per year for singles and about $510 per year for couples combined, if Tony Abbott is Prime Minister.

Mr Hockey must urgently explain to pensioners why he thinks they deserve a cut in their pension payments.

After ignoring the needs of pensioners for almost 12 long years in Government, Joe Hockey has made it clear that a Coalition Government will never look out for the best interests of older Australians.

Tony Abbott is Dr No and he will say no to pensioners if he ever becomes Prime Minister.

Only a Labor Government will deliver for Australia’s pensioners.

It was this Labor Government that delivered the biggest increase to the pension in its 100 year history, leaving a single maximum rate pensioner $148 per fortnight better off since September 2009.

And we are continuing to look after pensioners, by improving indexation arrangements, introducing a new work bonus so that age pensioners can keep more of the money they earn through work and giving them a financial buffer to help with the modest price impacts of the carbon price.