The Albanese Labor Government will cut a further 20 per cent off all student loan debts, wiping around $16 billion in student debt for around three million Australians.By 1 June next year, the Government will cut 20 per cent off all student loans to reduce the debt burden for Australians with a student loan. This will cut around $16 billion in debt, including all HELP, VET Student Loan, Australian Apprenticeship Support Loan and other income-contingent student support loan accounts that exis...| Prime Minister of Australia
The Albanese government wants to cut student debts as it frets about younger voters turning to the Greens. Economists say the $16b loan forgiveness will favour high earners.| Australian Financial Review
Last week, the Economic Inclusion Advisory Committee’s annual report to government recommended a substantial increase in JobSeeker and related payments. It included research pointing to benefits to productivity and mental and physical health from an increase. But it would have a fiscal cost requiring lower spending elsewhere, higher taxes or rising debt. | e61 INSTITUTE