NDIS Savings Fund passes House of Representatives
Minister for Social Services, Christian Porter, today welcomed the passage of legislation to establish a dedicated fund to meet future costs associated with the National Disability Insurance Scheme.
The Bill to establish the National Disability Insurance Scheme Savings Fund Special Account passed the House of Representatives this morning. It will now be considered by the Senate.
“The Turnbull Government is absolutely committed to fully funding the NDIS to ensure people living with disability, their families and carers have the supports needed to live normal lives,” the Minister said.
“Labor failed to properly fund the Scheme, leaving a $4.1 billion funding gap in 2019-20, the first full year of the Scheme.
“But when it came to honouring its own commitments, Labor failed, leaving a $4.1 billion gap in funding in 2019-20 which grows every year after.
“In stark contrast to the Labor approach, the Turnbull Government has moved to establish a specific fund in which identified savings can be quarantined to meet future liabilities of the Scheme.
“The original recommendation for the establishment of the fund came from the 2011 Productivity Commission Inquiry into Disability Care and Support. In its recommendation, the Productivity Commission said: “The Australian Government would direct payments from consolidated revenue into a National Disability Insurance Premium Fund using a legislated formula to achieve transparency and certainty.
“Labor failed to act on this recommendation. In stark contrast, the Turnbull Government is acting to transparently fund the NDIS to provide certainty for people living with disability, their families and carers.”