Shadow Treasurer JEChalmers has told Sky News the devastating impact of the coronavirus pandemic would have happened “under a government of either persuasion” but the key issue was how the government responded to the economic crisis.
Shadow Treasurer Jim Chalmers has told Sky News the devastating impact of the coronavirus pandemic would have happened “under a government of either persuasion” but the key issue was how the government responded to the economic crisis. Labor has called on Treasurer Josh Frydenberg to reconsider revising down JobKeeper payments from October while jobs growth remained stagnant.
“They’ve excluded too many people from JobKeeper, they’re in too big a rush to withdraw support from the economy while unemployment is still rising. “The rate and eligibility of Jobkeeper is entirely the preserve of the Treasurer … we urge him to reconsider winding that back because the economy is still in all sorts of trouble. “It’s not about the costings of maintaining that program, the issue here is maintaining jobs.
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New JobKeeper legislation ‘critical to economic recovery’ passes through parliament | Sky News AustraliaThe ground-breaking JobKeeper program has passed through the parliament which will see it extended and expanded for another six months.\n\nTreasurer Josh Frydenberg and Industrial Relations Minister Christian Porter announced the passage of the extension of the scheme which is currently supporting more than 3.5 million Australian workers.\n\nThe legislation will see the payment drop to $1,200 per fortnight from September 28, with another decrease scheduled from January 2021 to $1,000.\n\nThis will only apply to workers who recorded at least 20 hours of work a week before the scheme was introduced.\n\nMr Frydenberg also praised the “critical industrial relations flexibility arrangements” as part of the legislation which he said will be “absolutely critical” to Australia’s economic recovery.\n\n“The passage of the legislation tonight is going to give confidence and certainty to millions of Australian workers and provide hope for our economic recovery,” he said.\n\nImage: Getty
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JobKeeper extension passes federal parliament | Sky News AustraliaJobKeeper payments will continue at a lower rate beyond next month after changes to the government’s subsidy scheme passed through the federal parliament. \n\nFull time workers will receive $1200 a fortnight while part time workers will receive $750 a fortnight, before the rate is revised down to a maximum payment of $1000 a fortnight from December to March. \n\nTreasurer Josh Frydenberg said the six-month extension provided an important lifeline to millions of Australian jobs and businesses. \n\n“There’s also critical industrial relations, flexibility arrangements that come with this legislation and that’s going to be absolutely critical to our economic recovery,” he said.\n\nImage: Getty
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Govt pressed on whether cutting JobKeeper will worsen recession | Sky News AustraliaShadow Treasurer Jim Chalmers has questioned the Morrison government on whether cutting JobKeeper, JobSeeker and wages will make the worst recession in a century even deeper and longer.\n\nTreasurer Josh Frydenberg hit back highlighting how many people the programs supported, and that it was always implemented as a temporary measure.\n\n“JobKeeper is at $101 billion, the single largest economic support program that this government, or indeed, any Australian government has ever undertaken,” Treasurer Josh Frydenberg said.\n\n“And right now, it’s supporting 3.5 million Australian workers and around 1 million businesses, Mr Speaker.\n\n“We’ve always said, though, the program was temporary, it was targeted, and that there would be a transition.\n\n“We are seeing this payment transition over time but right now it’s supporting 3.5 million workers. \n\n'It’s transitioning, it’s tapering just as the Member for Rankin (Jim Chalmers) asked it to do.'\n
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Albo's 'each way bets' on JobKeeper 'can't be trusted' in a crisis: PM | Sky News AustraliaPrime Minister Scott Morrison has highlighted the importance adjusting and shaping the JobKeeper subsidy in accordance with the economic needs of the nation in the wake of the COVID-19 pandemic.\n\n“JobKeeper must be transitioned,” he said.\n\nThe Prime Minister’s comment responded to Opposition Leader Anthony Albanese who said now was “the worst time for the Prime Minister to be cutting JobKeeper and cutting JobSeeker”.\n\n“We will continue to focus on the plan and the response that we have provided in a measured and carefully architected way”.\n\n“That plan has been working.”\n\nThe Prime Minister went on to highlight the “each way bets” of his counterpart claiming Mr Albanese consistently flip-flopped talking about the coronavirus welfare payments.\n\n“He said JobKeeper should be extended but it should be transitioned. He said it should be higher and he says it should be lower,” Mr Morrison said. \n\n'What the Australian people know is the each-way bet plan of the Leader of the Opposition is not one that you can trust in a crisis”. \n\nImage: Getty
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Treasurer to announce Australia in first recession in three decades | Sky News AustraliaThe Treasurer is today expected to announce Australia has entered its first recession in almost three decades with an expected six per cent contraction in Gross Domestic Product during his national accounts address.\n\nJosh Frydenberg said the coronavirus pandemic swung 'a wrecking ball' through the economy but said Australia was doing better comparatively than other nations.\n\n'The impact... on GDP in the June quarter across the world has been staggering,' Mr Frydenberg said.\n\n'In the United Kingdom, it has been around 20 per cent. In France, it has been around 14 per cent.\n\n'The expectation is the fall here will not be as large as we've seen in other countries around the world indicating the remarkable resilience of the Australian economy.'\n\nThe contraction represented the worst economic downturn since records began in the 1950s - dwarfing a two per cent quarterly drop in 1974.\n\nThe Reserve Bank of Australia unsurprisingly announced yesterday it would again keep the cash rate on hold at the record low 0.25 per cent but Governor Philip Lowe confirmed another cut was unlikely for the 'forseeable future'.\n\nMeanwhile, the parliament has greenlighted the government's plan to cut Jobseeker and Jobkeeper payments beyond September when a two-tiered, revised system comes into effect through to March 2021.\n\nThe Treasurer argued it was time to begin winding back the government's high level of fiscal support, but said no Australian would be 'left in the lurch'.\n\nImage: News Corp Australia
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Treasurer forming five-year-plan to guide Australia out of recession | Sky News AustraliaTreasurer Josh Frydenberg is formulating a five-year-plan to create jobs and reestablish business investments in order to ensure Australia has a strong recovery from the nation’s worst recession since WWII.\n\nThe Australian has reported Mr Frydenberg said the current recession is “like nothing we have experienced before”.\n\nSky News host Peter Gleeson spoke to Sky News contributor Caleb Bond about the matter.\n\n“Thirty years ago we had what was termed the recession we had to have, and now we have on our hands the recession we could not avoid,” Mr Bond said.\n\nImage: Getty
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