Aged Care Online

Find an aged care home for you!
Call My Care Path on 1300 197 230

Federal Budget Expected to Give Aged Care $10 Billion Funding Boost

on Monday, May 10, 2021

Tomorrow’s federal budget is projected to include a $10 billion boost to Australia’s aged care sector, with Aged Care Minister Greg Hunt saying it is “the largest [aged care funding package] in Australian history.”

Treasurer Josh Frydenberg recently told the ABC that the government is committed to fixing the aged care sector, which has been struggled with problems for many years and is in need of a significant overhaul.

“We’ve had a royal commission which has indicated that the sector is in dire need of reform,” Mr Frydenberg said.

“We have an ageing population and it’s not just about spending more money, it’s also about ensuring that that money is well spent and our focus is on governance, workforce issues, and the quality of aged care services.”

The Aged Care Royal Commission’s final report was released in March this year, with this year’s budget the government’s first official response to the report’s findings.

Mr Hunt said, "This will be the most significant investment in aged care in Australian history. And it's our watch and it's our time, and it's our responsibility.

The $10 billion boost to the sector is expected to be spread out over four years, with early reports suggesting that a significant portion of the money will go to reducing the waiting lists for Home Care Packages.

It is believed the funding package will also address:

  • Understaffing issues
  • More resources for residential aged care homes
  • Staff training
  • Increased regulation
  • Safety and compliance
Banner