JobKeeper payments will be cut from today, despite economists forecasting fewer jobs and lower wages for years to come. 9News
The government has recognised that so has now brought the total down to better reflect payment conditions before the virus hit the country.From today, this "flat rate" will be reduced depending on how many hours people used to work before the pandemic hit.
For example, for someone who used to work 20 hours or more, they will receive a flat rate of $1200 a fortnight instead of $1500. For those who used to work 20 hours or less during February 2020, they will receive a flat rate of $750 per fortnight.Economist Chris Richardson from Deloitte Access Economics predicts the treasurer will announce a deficit after round $198 billion for this year when the budget is released on October 6.
But that number doesn't take into account any of the further spending or costs that might be announced by the Morrison Government in the budget. You can get up-to-date information from the Federal Government's Coronavirus Australia app, available on the
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