Budget 2024 MESL Impact Briefing

Issued: October 2023

Budget 2024

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Summary

This briefing analyses the impact of Budget 2024, applying the MESL data to examine the impact of the announced measures on income adequacy. This involves assessing the degree to which changes to incomes and services have protected the real value of supports in the face of rising living costs, and if they will progress towards enabling a socially acceptable minimum standard of living in the coming year.

The briefing assess the effect of both the ‘Cost of Living’ measures for 2023 & 2024, and the 2024 adjustments to core social protection income supports. Measuring adequacy against the latest MESL data, forecasting minimum costs and potential income adequacy in both 2023Q4 and 2024.

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