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‘Nothing is free’: Joe Hockey warns of budget pain, with pensions in the firing line

It"s history is intriguing. The Imo, a Norwegian ship, was behind schedule and in a hurry to leave. The Mont-Blanc, a French munitions ship, had arrived from New York the day before but was held back having arrived too late to pass through the submarine nets. Allowed through the next morning, the Mont Blanc was not flying the mandated red flag to identify it was carrying highly combustible materials: In those days ships in the inner harbour were known to sometimes pass each other on the wrong side. Of course had the Imo known what deadly cargo the Mont Blanc was carrying it is unlikely it would have pressed to pass the Mont Blanc on the wrong side even though the Mont Blanc had signalled back that it was not changing course. There was a collision and an uncontainable fire broke out on the Mont Blanc. Panicked, the Mont Blanc captain and crew abandoned ship in a rowboat to a nearby island leaving the vessel to drift. As the burning ship slowly crept toward the downtown area a crowd gathered at the harbourfront enjoying the unusual spectacle.

"Nothing is free": Joe Hockey warns of budget pain, with pensions in the firing line

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Perhaps it might be funded by an increase in inheritance tax, as various think tanks have proposed.

Roy Craney moved to Thailand. The pension qualifying age will be lifted from 67 to 70 by And from , pension rises will be pegged to the consumer price index, and the value of income test and assets test free areas will be fixed for three years. Advertisement Italy and Greece are the two most popular destinations for Australian pensioners relocating abroad. You will now receive updates from Breaking News Alert Breaking News Alert Get the latest news and updates emailed straight to your inbox.

By submitting your email you are agreeing to Fairfax Media"s terms and conditions and privacy policy. University of South Australia researcher Peter Winwood said many people retiring now had inadequate funds to finance their lifestyle. The superannuation levy came in part-way through their working lives, and the current pension rate of 50 per cent of average weekly earnings was only slightly above the poverty line.

Roy Craney decided to move overseas when he struggled to find work in his chosen field of hospitality management once he reached He cashed in his superannuation and moved to Thailand nine months ago. He hopes that the relatively cheap cost of living there will ensure his super lasts until he qualifies for the age pension at I was going through my savings too quickly. He said he had met at least 50 expats who had relocated to Thailand for the same reasons as him.

It"s a situation they didn"t expect to find themselves in.

Struggling pensioners opt to leave Australia for a cheaper country

Thai Visa Information Visitors from most European, North and South American, as well as many Asian countries, do not need a visa to enter the kingdom if they wish to stay in Thailand for no longer than 30 days and for tourism purposes only. If you wish to stay longer than a month or two most foreigners can easily apply for a tourist or other visa at a Thai consulate in their home country.

Our general Thai visa pages provide you with all the info you need before traveling to the Land Of Smiles. Do I need a visa to travel to Thailand? Where can I find the nearest Thai embassy or consulate, and what kind of visa can I apply for?

In those days ships in the inner harbour were known to sometimes pass each other on the wrong side.

Sunday 21 May Some Tory candidates are beginning to grumble, perhaps unsurprisingly given their natural support base. What Dilnot meant is that without a cap on out-of-pocket care costs it will prove impossible for private insurance firms to design a product which will enable individuals to insure themselves against the possibility they will require expensive care in old age.

The Conservative proposal may not be facilitating the type of insurance on individual care expenditure that Dilnot thinks is appropriate. What are the economic implications? It helps to look at the numbers.

"Nothing is free": Joe Hockey warns of budget pain, with pensions in the firing line

Mr Hockey is expected to outline a slightly faster return to surplus than has previously been foreshadowed with an accompanying graph in his speech showing the government"s balance sheet could achieve balance in on a path towards a solid surplus of 1 per cent of GDP by The speech, a keynote address in Sydney on Wednesday evening, was designed to frame the public debate before the budget. Having previously called for an end to the"age of entitlement", Mr Hockey spent some time in his speech focusing on the expanding cost of the age pension, arguing that as the population ages it places an increasing burden on other people.

He said aged care was"now the eighth largest category of spending". Mr Hockey also ruled out an increase in the GST""during this term of government"". Mr Hockey revealed the Commission of Audit had recommended that real spending growth be capped at no more than 1.

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More than 500,000 pensioners"will be lonely at Christmas" with just the television for company

And from , pension rises will be pegged to the consumer price index, and the value of income test and assets test free areas will be fixed for three years.

"Nothing is free": Joe Hockey warns of budget pain, with pensions in the firing line

This would be socially equitable since the ones footing the bill — rich families in the South — would also be the beneficiaries of the social care reform.

More than 500,000 pensioners"will be lonely at Christmas" with just the television for company

For middle-income Australians, middle-aged Australians, we need you in work.

Sorry, but Theresa May is quite right not to offer subsidised social care to well-off pensioners

But to be clear about this:


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