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Increasing interest rates will cost jobs, with the heaviest burden falling on people who lose work or can’t find enough paid work, ACOSS has warned ahead of the RBA decision on Tuesday.

With unemployment continuing to rise in August by 28,000 people, Australia must change its approach to reducing inflation to avoid the comparatively higher unemployment of other advanced nations, said the Australian Council of Social Service.

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Worsening disasters, ongoing global shocks, and an aging population will lead to more severe inequality and social division without bold reforms to protect the community, said ACOSS following the release of the Intergenerational report.

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Routine indexation to income support payments is not enough and the Federal Government must deliver a substantial real increase to working-age payments, ACOSS said today.

From 20 September, JobSeeker Payment, Parenting Payment, pensions and Commonwealth Rent Assistance will rise in line with the twice-yearly indexation cycle.

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ACOSS strongly condemns the racist and deeply offensive statements made by Senator Pauline Hanson denigrating First Nations peoples.

“There is no place in public debate for statements that fuel hate and racism, diminishing First Nation peoples and stoking division,” said ACOSS CEO Cassandra Goldie.

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