Billions of dollars in wage support could soon be stripped out of the economy, while Malcolm Turnbull warns JobKeeper is being used to prop up doomed businesses.
Billions of dollars in wage support could be stripped out of the Victorian and NSW economies in September, while former prime minister Malcolm Turnbull warns the JobKeeper lifeline is being used to prop up businesses that have no future.
Perth couple Jon Hunter and Alex Smith are living off a credit card as they have not had any income for more than three months because rules around JobKeeper precluded them from accessing it. Despite both their incomes crashing, under JobKeeper only one could have qualified for the wage subsidy, so the tax office advised them to set up individual ABNs. After doing that they discovered they had missed a March cut-off date for either to qualify. They are now hoping to get JobSeeker.
He also proposed redirecting financial support away from failing businesses left unsustainable due to the pandemic and towards new jobs. The government has flagged the possibility of extending the wage subsidy scheme for some locations and industries after September, amid warnings from the tourism and hospitality sector they are yet to start recovering.
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