Key takeaways from the budget - What's in it for you?

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News Breakfast host Michael Rowland and political reporter Stephanie Borys break down the winners and losers of Treasurer Jim Chalmers’ federal budget. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2023-05-09/federal-budget-2023-winners-and-losers/102287782

Young people on income support payments will receive a much-needed boost, as Austudy and Youth Allowance are both lifted by $40 a fortnight.

The maximum rate of Commonwealth Rent Assistance will also be lifted by 15 per cent, costing the government about $700 million a year.

But there is not much more targeted support for young people listed in this budget.

There is no new money for TAFE and there's a "TBC" on university funding and student loan support as the government progresses its Universities Accord.

There is, however, $127.3 million in funding over the next four years for an additional 4,000 Commonwealth-supported places at universities for courses that support the nuclear-powered submarine program, including STEM and management disciplines.

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Category: News and politics
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