Wayne Swan
“The government will commit to a system of paid parental leave in the budget,” Swan told Nine Network television today. “It’s an important social and economic reform. The scheme must be introduced in a measured and responsible way, taking into account the global recession.”
Australia is one of only two developed nations without parental leave, Swan said. The Productivity Commission in September said the government should make payments to the parent caring for the newly born children, while their employer should fund retirement payments for the 18-week period.
“This reform must go to those that need it most -- it will be of particular benefit to low- and middle-income families who have been left out in the cold,” Swan said. “This will be funded by government and not be funded by business.”
Mothers can currently take up to one year in unpaid maternity leave under Australian law. Current entitlements for paid maternity leave vary, depending on the terms of group- negotiated awards and individual contracts.
Higher Pensions
Under the existing model, Australian parliament research shows 39 percent of female employees take an average of seven weeks paid maternity leave before returning to the same job.
Swan also said the government would increase pension payments to the elderly.
“There will be a pension increase for the base rate for aged pensioners,” Swan 54 said. “What we have to do in this budget, first of all, is to stimulate the economy to support jobs now and make room in the budget for these vital long-term reforms.”
Swan said there would be “tough decisions” essential to returning the budget to surplus after revenue fell A$200 billion short of forecasts made a year ago. Treasury forecasts released in February showed a A$22.5 billion deficit for the year ending June 30, the first budget shortfall in seven years.
Gemma Daley in Canberra
gdaley@bloomberg.net
Copyright 2009 Bloomberg LLC
May 10, 2009
AUSTRALIA: Paid Parental Leave Beginning 2011, Higher Pensions Announced
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CANBERRA / Bloomberg News / May 10, 2009
By Gemma Daley
Australia’s government will this week announce an 18-week paid maternity leave system for low- and middle-income earners, beginning in 2011, Treasurer Wayne Swan said.
Parents who earn less than A$150,000 ($115,000) will be paid the equivalent of the A$544 a week minimum wage starting January 2011. The system, to be announced in the May 12 budget, will cost A$450 million a year.
Wayne Swan
“The government will commit to a system of paid parental leave in the budget,” Swan told Nine Network television today. “It’s an important social and economic reform. The scheme must be introduced in a measured and responsible way, taking into account the global recession.”
Australia is one of only two developed nations without parental leave, Swan said. The Productivity Commission in September said the government should make payments to the parent caring for the newly born children, while their employer should fund retirement payments for the 18-week period.
“This reform must go to those that need it most -- it will be of particular benefit to low- and middle-income families who have been left out in the cold,” Swan said. “This will be funded by government and not be funded by business.”
Mothers can currently take up to one year in unpaid maternity leave under Australian law. Current entitlements for paid maternity leave vary, depending on the terms of group- negotiated awards and individual contracts.
Higher Pensions
Under the existing model, Australian parliament research shows 39 percent of female employees take an average of seven weeks paid maternity leave before returning to the same job.
Swan also said the government would increase pension payments to the elderly.
“There will be a pension increase for the base rate for aged pensioners,” Swan 54 said. “What we have to do in this budget, first of all, is to stimulate the economy to support jobs now and make room in the budget for these vital long-term reforms.”
Swan said there would be “tough decisions” essential to returning the budget to surplus after revenue fell A$200 billion short of forecasts made a year ago. Treasury forecasts released in February showed a A$22.5 billion deficit for the year ending June 30, the first budget shortfall in seven years.
Gemma Daley in Canberra
gdaley@bloomberg.net
Copyright 2009 Bloomberg LLC
Wayne Swan
“The government will commit to a system of paid parental leave in the budget,” Swan told Nine Network television today. “It’s an important social and economic reform. The scheme must be introduced in a measured and responsible way, taking into account the global recession.”
Australia is one of only two developed nations without parental leave, Swan said. The Productivity Commission in September said the government should make payments to the parent caring for the newly born children, while their employer should fund retirement payments for the 18-week period.
“This reform must go to those that need it most -- it will be of particular benefit to low- and middle-income families who have been left out in the cold,” Swan said. “This will be funded by government and not be funded by business.”
Mothers can currently take up to one year in unpaid maternity leave under Australian law. Current entitlements for paid maternity leave vary, depending on the terms of group- negotiated awards and individual contracts.
Higher Pensions
Under the existing model, Australian parliament research shows 39 percent of female employees take an average of seven weeks paid maternity leave before returning to the same job.
Swan also said the government would increase pension payments to the elderly.
“There will be a pension increase for the base rate for aged pensioners,” Swan 54 said. “What we have to do in this budget, first of all, is to stimulate the economy to support jobs now and make room in the budget for these vital long-term reforms.”
Swan said there would be “tough decisions” essential to returning the budget to surplus after revenue fell A$200 billion short of forecasts made a year ago. Treasury forecasts released in February showed a A$22.5 billion deficit for the year ending June 30, the first budget shortfall in seven years.
Gemma Daley in Canberra
gdaley@bloomberg.net
Copyright 2009 Bloomberg LLC
