As the Morrison government moves to cut JobSeeker, ACOSS CEO cassandragoldie says reducing welfare funding could sound the death knell for small businesses.
As the Morrison government moves to cut JobSeeker, ACOSS CEO Dr Cassandra Goldie says reducing welfare funding could sound the death knell for small businesses. A report released by Deloitte Access Economic predicted cutting JobSeeker funding could cost $31 billion and ruin the livelihoods of thousands of Australians in retail and hospitality. Ms Goldie said because the JobSeeker payment targeted low income earners, the spending impacts were significant.
“All those dollars are being spent in the real economy,” she said. “It is important for us to understand that those dollars are the best dollars the government could spend to support businesses”. Ms Goldie said the government was hoping a personal income tax cut could work in a similar fashion to the JobSeeker payment to stimulate jobs growth, but said in reality the proposed tax cuts would only help higher income earners who were more likely to save money.
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