Finance Minister Mathias Cormann says there will be “some adjustments” to the JobKeeper wage subsidy program ahead of the government’s economic update on July 23. This comes as Treasurer Josh Frydenberg confirmed the JobKeeper subsidy would be extended past the planned September deadline.
Mr Frydenberg said the Victorian COVID-19 crisis continues to threaten the whole economy, and JobKeeper is required to assist Australians affected by the coronavirus pandemic. “Once we get to the end of September it will be a matter of making sure any ongoing support is appropriately targeted to those businesses that generally need it,” Mr Cormann told Sky News. “There will be some adjustments to the scheme, to make sure it is appropriate for the next phase.
MathiasCormann Australia should have never shut down. This is an economic disaster with unknown outcome. All this socialism & gov't meddling will to a crashing halt when they run out of other peoples money. 🤡😎
MathiasCormann A recent survey found that 2 out of every 3 Australians prefer 'The Outsiders' on Murdoch's Sky on at same time with the brilliant Rowan Dean and Rita Panahi. Switch your insights.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Unemployment rate lower than we feared: Cormann | Sky News Australia“The unemployment rate is less than what we feared it would be when we first went into this crisis,” according to Finance Minister Mathias Cormann.\n\nOn Thursday the Australian Bureau of Statistics announced Australia’s unemployment rate had risen to 7.4 per cent, the highest it’s been since November 1998.\n\nMore than 992,000 Australians are now formally unemployed, with underemployment figures expected to be much higher. \n\n“Back in March, a treasury was advising us to expect an official unemployment rate of about 10 per cent by the end of June,” Mr Cormann told Sky News. \n\nMr Cormann said the June numbers proved Australia’s economy was heading in the right direction and had incredible resilience.\n\n“On the back of the easing of restrictions throughout the latter part of May and June, 280,000 people went back into the liable market, workforce participation went up, 210,000 jobs were restored and indeed hours worked went up, numbers unemployed went down,” he said. \n\n“We continue to deal with the economic impact of the global pandemic which has had devastating effects around the world, and which has had a very negative impact on the economy and jobs here in Australia.\n\n“But, if you compare what’s happening here with what’s happening in other parts of the world, if you compare what’s happening here with what we feared might happen earlier this year then we are in a comparatively better position.' \n MathiasCormann Today’s episode of The Imaginarium of Mathias Cormannisis 🤦🏻♂️ MathiasCormann More lies! I know someone who should be unemployed 😡 MathiasCormann the figures are dodgy due to jobkeeper... we're all aware of that
Source: SkyNewsAust - 🏆 7. / 78 Read more »