Welfare payments rise as mortgage holders await interest rate decision

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Welfare payments are set to rise again in a much needed boost for the nation’s most vulnerable.

The bi-annual rise will be on top of the extra money announced in the Federal budget, but still may not keep up with rising cost of many essentials.

From September the Jobseeker rate that was due to jump $40 per fortnight will now grow by $56, matching the six month inflation rate of 2.2 per cent.

Welfare payments are set to rise again in a much needed boost for the nation's most vulnerable.

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Parenting and pension payments will likely rise by a similar rate, but that’s not guaranteed.

The top rate of rental assistance will rise between $18 and $37 a week.

Social Services Minister Amanda Rishworth told the ABC’s Insiders they’re helping those who need it the most.

“We have calibrated these to be responsible, to help people that are doing it tough but also to be sustainable into the long term as well,” Rishworth said.

“We’ve got our energy price reductions focusing on concession card holders and we’ve got the tripling of the bulk billing incentives which is focused once again on those on the lowest incomes.”

The relief is much needed but won’t match the increase in food, energy, or rent costs.

And despite a $16 billion improvement in the budget’s bottom line, there are no new government programs or payments.

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The Senate will begin debate on the so-called safety net bills this week, with just four weeks to pass the legislation before some payments are due to begin

“This government will continue to provide cost of living relief where we can without adding to inflation,” Communications Minister Michelle Rowland told Sky News’s AM Agenda.

For so many other Australians, Tuesday will be D-Day, as the Reserve Bank meets once more to consider interest rates.

The majority of economists predict a rate pause.