Lifeline Australia will get a multimillion-dollar funding boost in next week’s budget, the federal government has announced. 

More than $52 million in funding over four years will be provided to help the crisis support service keep up with growing demand.  

The service will use the funding to improve responsiveness and invest in crisis response innovation, surge capacity and models of care.

Prime Minister Scott Morrison says the funding will allow Lifeline to answer an extra 176,000 calls or texts from Australians in the next year – just under 4,000 every day. 

“The critical role that Lifeline plays has never been more evident than in these recent years … Lifeline is lifesaving, and that’s why our investment is so important,” he said. 

The announcement comes after the government on Thursday announced $260 million in the budget will go towards mental health support for young people. 

Meanwhile, the government will also provide an extra $10 million for its National Careers Institute partnership grants program.

The program was first funded in last year’s budget and invests in projects which give women more access to career pathways and employment opportunities.

Women’s Economic Security Minister Jane Hume says the program will provide targeted support, open up new employment opportunities and get more women into work.

Self-funded retirees are being assured their superannuation is safe with the government guaranteeing taxes won’t be raised if re-elected.

Treasurer Josh Frydenberg announced the 50 per cent reduction in minimum drawdown requirements would be extended until June 30, 2023.

He said this would provide greater certainty to retirees over their savings. 

“At this election, we are again saying to retirees: under a Morrison government there will be no increased superannuation taxes,” he said. 

Around 1.8 million superannuation accounts are subject to the minimum drawdown rule.

An 80-year-old self-funded retiree with $250,000 in their superannuation account on July 1 would be required to draw down seven per cent ($17,500) of the account balance over the 2022/23 year.

Reducing the minimum drawdown rates by 50 per cent until June 30, 2023, means the self-funded retiree would only need to draw down 3.5 per cent ($8,750).

AAP

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