The Abbott Government needed to be doing much more to help Australia’s self-funded retirees hit hard by this week’s record interest rate cut, according to Palmer United Party federal leader and Member for Fairfax, Clive Palmer.
“With interest rates at an all-time low and the income of some self-funded retirees close to poverty levels, now is not the time to make their lives any harder,’’ Mr Palmer said.
Mr Palmer said the asset test for the pension had taken the burden off government for many years and now was the time to be fair to all Australians.
“When interest rates are at all-time lows meaning many self-funded retirees will now need support it is unfair to change the criteria and have them suffer.
“The government needs to understand it has a responsibility to be fair to all Australians and not discriminate against any one group.
“To hit self-funded retirees is a heartless act,’’ Mr Palmer said.