pandemic — "the biggest economic lifeline in Australia's history," according to Prime Minister Scott Morrison. Under the package, the wages of millions in the country will be subsidized by the government.
Australia's government is unlikely to introduce further major fiscal stimulus as the country grapples with the economic fallout from the coronavirus outbreak, according to Cormann. We're providing support for six million workers through this JobKeeper program and that is about half the Australian workforce."We've now put in place measures that represent about 16.4% of our GDP," Cormann said. "While there might still be some adjustments along the way ... in terms of major measures, this is it."Still, he said that a line has to be drawn when it comes to temporary visa-holders.
"The expectation always is that they are able to support themselves in Australia, while in Australia, either to work through their savings or by accessing their superannuation," Cormann said. "For those who can't do that, our very strong advice to them is that they should return home." Superannuation in Australia is money set aside by a person's employer over the course of the individual's working life for them to live on upon retiring.
And yet millions are losing their jobs. 🤔
Did he ask China?
Ok
If a rebounding economy is ANYTHING like rebound sex...things about to get nasty in the best of ways.
😂
How dependant is Australia on the world market?.. They may have somewhat of a bounceback, but, will hit a big wall called global economy....(just my thought)
What is he supposed to say, when the markets are listening?
Another Australian Bullshiters!
'someday'
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