It was a Federal Budget that respectfully acknowledged gender equality and one that delivers for women in need.
In handing down his second Budget Treasurer Jim Chalmers announced the government was back in the black and with that came a number of spending promises, many of which will help women.
Such spending, including $14.6 billion package to help with cost of living pressures, has already started to worry economists. The concern is that money flows through to the economy, it may add to inflationary pressures and potentially lead to even higher interest rates and higher cost of living pressures.
This is a big concern for women who are already bearing the brunt of this given they earn less on average and are more likely to be on lower incomes.
But as independent economist Chris Richardson told the ABC, that spending will take some time to stoke inflation, so let’s not get too excited about the impact just yet.
For now, there are some great measures in the Federal Budget that ensure it delivers for women in need, particularly single women, women who are unemployed, older women and those working in the Health sector.
Here’s four big ticket items that grabbed our attention on women and whether we think it will have much of an impact on reducing gender equality timeframes.
More financial support for single parents, 90% of whom are women.
The Single Parenting Payment will be expanded to for single parents whose youngest child is under 14. Eligible primary carers will receive a payment of $922.10 per fortnight, an increase of $176.90 compared to the current JobSeeker Payment (single with dependent rate).
Does this measure help widen or narrow gender equality? This measure is certainly welcome and will assist the financial security of single parents, 90% of whom are women but what’s also needed are further incentives on employers to not just hire single parents but also ensure flexible work arrangements are provided to them, allowing them to meet family juggle demands.
Help for women aged 55 years and over.
The Government announced that not only would the JobSeeker Payments increase by $40 per fortnight but that people over the age of 55 years would be eligible to the higher JobSeeker Payment. This is a move that recognises the growing number of women facing homelessness later in life and who are retiring with next to nothing in superannuation savings.
Does this measure help widen or narrow gender equality? This measure will certainly assist the financial security of older women but it’s very little when broken down and does it help encourage more women into the workforce? Not really. What’s needed are further incentives on employers to hire older women for the long-term.
Higher wages for women working in Aged Care
Government is allocating $11.3 billion to support the Fair Work Commission’s decision to provide an interim increase of 15% to modern award minimum wages for many aged care workers.
Does this measure help widen or narrow gender equality?
This measure would certainly assist the financial security of women and acknowledge the value of our underpaid Aged Care workers. But does it help encourage more women and indeed men into the sector? Yes, it will go some way but certainly greater gender equity in leadership and the leadership pipeline (men and women) is needed in this sector to support long-term change in pay and upping the value stakes.
Improving pathways for women in trades.
The Budget detailed a commitment by the government to encourage more women into apprenticeships by setting national gender targets on major Australian Government‑funded construction and information and communications technology (ICT) projects valued at $10 million or more. The Women’s Budget Statement also noted that more men would be encouraged to participate and gain skills in fields where women have been historically over‑represented, such as the care and support sector.
Does this measure help widen or narrow gender equality?
This measure was possibly our favourite because it looked at the big issue of gender inequality across sectors and we think it will help to break down long-standing gender stereotypes and which hold back the financial progress of Australian women. The more gender balance achieved in sectors across seniorities and roles, the more likely it is that gender pay gaps will close in many sectors.
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