Spend surplus on pension increase, says Abbott
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Tony Abbott says a $30 increase in the age pension is a quick fiscal fix.
The Federal Opposition says boosting the age pension is the answer to the Prime Minister's quest to use the surplus to bolster the economy.
The Government is considering ways to spend some of the $22 billion surplus on measures that will have an immediate impact on the economy.
Kevin Rudd says it is time to deploy the surplus to counter the global economic slowdown.
It is being reported the Government is preparing to announce targeted bonuses to pensioners and low income families to help them survive the current crisis.
The Opposition's families spokesman Tony Abbott, says a $30 a week increase in the age pension would help older Australians and add fuel to the economy.
"It's certainly a very quick fiscal fix, all this talk about infrastructure is all very well but serious infrastructure spending has very long lead times," he said.
"This is a matter of justice for pensioners given the Prime Minister's admissions that he can't live on the single aged pension, but it's also sensible economics."
Mr Rudd has said he will bring forward decisions on infrastructure to counter the slowdown and some in the Caucus are hoping that will mean extra spending to overcome bottlenecks in ports.
Today's Caucus meeting is also the first chance for backbenchers to be briefed on Mr Rudd's bank bailout which was announced on Sunday.
The Government is still working on the next aspect of the response - the spending package aimed at countering the expected global slowdown.
