The Albanese government sacrificed about $5 billion in budget savings in return for securing the Coalition’s support for the aged care reforms announced this week, according to sources in both camps.
The reforms, which will require retirees to pay more for both home and residential care from July 1 next year, increase the use of means-testing and therefore have the greatest impact on part-pensioners and self-funded retirees.
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Phillip Coorey is the political editor based in Canberra. He is a two-time winner of the Paul Lyneham award for press gallery excellence. Connect with Phillip on Facebook and Twitter. Email Phillip at pcoorey@afr.com
