Women set to win big in the Federal Budget

WOMEN are expected to be among the winners in this year’s Federal Budget but with new measures to help mums get back into work. But there’s a catch.

WOMEN are expected to be among the winners in this year’s Federal Budget but the specifics of new measures to help mums back into the workforce won’t be announced for months.

“Significant” funding — expected to dwarf the $100 million Prime Minister Malcolm Turnbull announced for measures to tackle violence against women in 2015 — will be allocated for measures to get women back into the workforce, Fairfax Media reports.

It will build on last year’s commitment to reduce the gender participation gap by 25 per cent by 2025, supported by $2.5 billion for childcare in the 2017 budget.

Minister for Women Kelly O’Dwyer confirmed this morning the details would not be in the budget but she would be announcing them in an economic statement for women during in the Spring session of Parliament in September or October.

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There will be plenty for women in tomorrow’s budget says Kelly O'Dwyer. Picture: News Corp

It’s understood the statement will cover issues like the pay gap, participation gap and superannuation gap for women.

Fairfax Media reports funding for the announcement will be contained in the contingency reserves of Tuesday’s budget.

“There’s obviously going to be a lot in the budget for millions of Australian women,” Ms O’Dwyer told ABC radio today.

“We’re building the next steps around women’s economic security. And there will be a significant announcement in Spring,” she said.

The new measures would improve the economic security for women and help them prepare for retirement.

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Ms O’Dwyer said the announcement delay was because “there’s going to be a lot in the budget already”.

The Minister also indicated the government was open to ending the so-called “tampon tax”, which Labor has declared it will do if it wins government at the next election.

Agreeing the items were necessities, Ms O’Dwyer said the Coalition had previously tried under Treasurer Joe Hockey to end the tax but the move was rejected by the states, which receive revenue from the GST on the sanitary products.

“It’s a matter for the state treasurers. Every single dollar goes to the states. Not one dollar goes to the Commonwealth. They need to unanimously agree to a change to the GST,” Ms O’Dwyer said.

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Catherine Brenner has left AMP in the wake of the revelations at the banking royal commission. Picture: Britta Campion

She said “not one” of the Labor state treasurers raised the issue with Treasurer Scott Morrison when they met just weeks ago.

“If they can get unanimous agreement, that would be great,” she said.

Ms O’Dwyer also slammed the “frankly ridiculous” focus on female company directors sparked by AMP chairman Catherine Brenner’s resignation.

“The idea that we’ve had corporate failures and there are shocking revelations to come out of the royal commission that somehow this is gender specific is completely wrong,” she said.

“Corporate failures are not gendered. We’ve seen plenty of corporate failures that involve men, whether it’s directors or CEOs.

“To make this argument is frankly ridiculous.”

The Minister said she was “dismayed” by talk that women do not deserve a place around the boardroom table.

“The fact that we have targets is simply to say that we need to focus on having those women around the boardroom table.”

Originally published as Women set to win big in the Federal Budget