Self-funded retirees and part-pensioners will pay extra for their care; North Sydney seat abolished, pushing out teal MP; Defence medals to be stripped after war crime inquiry. Follow live updates.
Labor and the Coalition have struck a deal on aged care funding, in which those with the means – self-funded retirees and part-pensioners – will pay a bit extra for their care.
The deal, to be announced soon, will save $12.6 billion over 10 years. It followed meetings on Thursday of the Coalition’s shadow cabinet and joint party room. The package has been negotiated behind the scenes for the past six months. Despite the deal, aged care, which costs $36 billion last year, will remain a top-five impost on the federal budget and continue growing. The reforms will reduce the cost to taxpayers.
Under the deal, people already in aged care homes or on the waiting list for home care, will be exempt. The Coalition also successfully negotiated down a proposed $190,000 lifetime contribution cap to $130,000 for residential care fees, and a proposal to have no cap on home care. The current cap is about $76,000.
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