Election 2004 | Day 11 | Howard Offers Bribe For Olds

Looks like he buckled under pressure for a response to Labors pack. From the SMH:

Prime Minister John Howard today announced a new $1 billion tax offset for mature age workers.

The tax break will be available to people over the age of 55 and will provide a maximum annual rebate of $500.

Note that this equals a maximum of about $9.60 a week if you want to report it in other ways.

Mr Howard said he estimated 750,000 mature age workers would benefit from the measure.

The government predicts it will cost the Budget $1.04 billion over the next four years.

"We are committed to providing enhanced opportunities and greater choice for mature age workers," Mr Howard said.

"Their skills, experience and ongoing contribution to the labour force are vital if we are to secure our future economic strength."

The measure takes effect from the start of the 2004/05 financial year and will be available to workers earning up to up $63 000 a year.