. Speaking with Sky News, Mr Hassan said it is becoming apparent the commercial sector is becoming the “collateral damage” of the health crisis. “In many cases there are some structural shifts that may occur over the medium term,” he said.
“We all know about the move to remote learning as part of the coronavirus has been massive.” “With health restrictions easing there are question marks over the longer term: we are not going back to chock full CBD’s and public transport at full capacity and offices are going to see long-term changes and medium-term changes.” Business Weekend is brought to you by Westpac.
Westpac Commercial market will still remain relatively ok because of the yields it continues to give. Investors won’t be excited by the 1%plus on offer by the banks for cash, nor the volatility of the share market.
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Qld Dinosaur park and dark sky sanctuary prepares to open | Sky News AustraliaA Queensland dinosaur park and dark sky sanctuary, set in the middle of the Queensland outback, is preparing to open.\n\nDespite the pandemic, staff at the Australian Age of Dinosaurs are charging ahead with a dual development that is truly unique. \n\nThe project included a dinosaur exhibition park and an observatory atop Australia's first dark sky sanctuary, one of only 10 in the world. \n\nImage: AP Only over a decade late
Source: SkyNewsAust - 🏆 7. / 78 Read more »
JobKeeper mistake ‘is actually good news for Australian taxpayers’: Frydenberg | Sky News AustraliaSky News host Chris Kenny says “staggering developments” have emerged following the Treasury’s announcement of a 'massive' $60 billion JobKeeper mistake which he discussed in an exclusive interview with Treasurer Josh Frydenberg. \n\nA significant reporting error has led Treasury to dramatically revise its projections for the Morrison government's JobKeeper program. \n\nThe scheme, which sees the government pay $1,500 fortnightly in affected workers' wages, was originally expected to cover around 6.5 million employees at a cost of $130 billion. \n\nBut late Thursday, the Treasury and Australian Tax Office were forced to admit to the Morrison government those projections were wrong.\n\nAs a result, Treasury's revised estimate of the cost of the JobKeeper program is now just $70 billion which is $60 billion less than the original forecast. \n\nTreasury now expects the number of employees likely to be covered under JobKeeper program to be around 3.5 million, around 3 million less than forecast.\n\nTreasurer Josh Frydenberg said the “reality is” this was an “unintentional error by a thousand businesses”.\n\nHe said the initial forecast done by Treasury was done at a time when the number of coronavirus cases were on the rise in the nation but said this result “is good news for the Australian taxpayer”. \n\n“It’s good news that the Australian economy hasn’t deteriorated in the way Treasury initially predicted”. \n\n“Nobody should be seeking to blame Treasury or the ATO, we should just be accepting that this is a mistake, it was an unintentional one”. \n\nMr Kenny said the whole “massive” mistake has raised “a range of questions” over the government’s budget which now faces $60 billon less debt than expected. \n\nHowever, “the good news was that it means we’re $60 billion better off than we thought,” Mr Kenny said. \n\nImage: News Corp Australia JoshFrydenberg Great news our treasure made such a monumental error, more like lucky it wasn’t the other way around & we were found to be shortchanged. Fact is liberals are bad economic managers & Frydenberg is the worst JoshFrydenberg Labors fault as usual JoshFrydenberg Did Kenny the Coward ask any tough questions or just hand out his standard platitudes? Frydenberg is incompetent and should resign. If he does not do that, he should be sacked! Like pockets in a singlet.
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JobKeeper windfall 'very good news': Taylor | Sky News AustraliaA revision to the cost of the government’s JobKeeper program is “very good news” for the economy, according to Energy Minister Angus Taylor. \n\nThe government on Friday revealed a costing error by Treasury meant the wage subsidy scheme was initially forecast $60 billion higher than was required. \n\nIt is now estimated the JobKeeper program will cost the government $70 billion and will cover about 3.5 million workers. \n\nSpeaking with Sky News, Mr Taylor downplayed claims of a mistake within Treasury insisting the $130 billion figure was only ever a “forecast”. \n\n“This was a forecast, an update of the forecast, the original forecast was based on the best information available and this was a more subsequent update,” he said. \n\n“This was not an objective or a target. Only the Labor Party could think spending more money is a target.”\n\nMr Taylor said the revision indicated the economy was in better shape than was anticipated. \n\n“It is actually very good news. It means on the ground, and that’s where it counts, it means businesses are in better shape than we may have anticipated when those original forecasts were put in place on the best information available,” Mr Taylor said. \n\n“It does mean we are in a better position as we work our way towards recovery.”\n\nA review into the scheme will be carried out by the government in June. AngusTaylorMP Kieran_Gilbert Fantastic..Great Move .. Well done ANGUS .. AngusTaylorMP Kieran_Gilbert Angus doesn’t care whether you find the fraud or not... AngusTaylorMP Kieran_Gilbert but 'very bad news' for the economic management reputations of the LNP, JoshFrydenberg and ScottMorrisonMP shocking. auspol newscomauHQ
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Morrison government 'couldn't even run a bath': Albanese | Sky News AustraliaOpposition leader Anthony Albanese has delivered a stinging attack aimed at Treasurer Josh Frydenberg and Prime Minister Scott Morrison, saying the government is one which 'couldn't run a bath, let alone be good economic managers'. \n\nOn Friday a significant reporting error had led Treasury to dramatically revise its projections for the Morrison government's JobKeeper program. \n\nThe scheme, which sees the government pay $1,500 fortnightly in affected workers' wages, was originally expected to cover around 6.5 million employees at a cost of $130 billion. \n\nBut late Thursday, the Treasury and Australian Tax Office were forced to admit to the Morrison government those projections were wrong.\n\nAs a result, Treasury's revised estimate of the cost of the JobKeeper program is now just $70 billion which is $60 billion less than forecast. \n\nTreasury now expects the number of employees likely to be covered under JobKeeper program to be around 3.5 million, around 3 million less than forecast. \n\nMr Albanese said, 'this is a mistake you could have seen from space' and said Australian working people 'have been sunk' by the government's failure on the issue. \n\n'The fact is, if you can't get this right, how can you get the economic recovery right'. \n\nImage: News Corp Australia AlboMP JoshFrydenberg ScottMorrisonMP AnAl should shut up. More important things happening. AlboMP JoshFrydenberg ScottMorrisonMP Albo you couldn’t put the plug in that bath , maybe you should plug your mouth : TELL THE TRUTH AlboMP JoshFrydenberg ScottMorrisonMP If this was done by labor sky news would be all over it!!!!!
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Berejiklian ‘leading the way’ despite ‘restriction overreaction’ by states | Sky News AustraliaSky News host Chris Kenny says initially Australia got on top of the coronavirus pandemic but since then there has been “overreaction after overreaction” from state governments on lockdown measures. \n\n“You know I praised Scott Morrison and the premiers, the National Cabinet, for how they got on top of this pandemic early,” Mr Kenny said. \n\n“But since then we've seen overreaction after overreaction, not from Canberra but from the states”. \n\nHowever, Mr Kenny did say NSW Premier Gladys Berejiklian is now “starting to push harder than the other states to open up” as the coronavirus curve continues to flatten in the country.\n \nOn Friday Ms Berejiklian had said up to 50 people will be allowed inside pubs, cafes and restaurants from June after she decided to roll back far more restrictions than anticipated.\n\n“This is a lifeline, there'll be all sorts of new restrictions and social distancing, but these numbers will allow some businesses to operate commercially,” Mr Kenny said. \n\n“Well done Gladys Bereijiklian, she's leading the way and the other states should all follow suit, it’s easier for them, they've got no excuses”. \n\nImage: News Corp Australia It's better to overreact then underreact!!!!! Thank goodness Chris Kenny has no influence in running this country!!!! So says Chris Kenny...not an expert. Isn’t she the same Premier who oversaw Ruby prince debacle & wants Chinese students to return next month? What coolaid you drinking to think she’s doing a good job?
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Revised JobKeeper projections 'are a great result for Aussies' | Sky News AustraliaTasmanian Senator Eric Abetz says Treasury's revision on JobKeeper projections is actually 'fantastic' and is 'a great result for the Australian people'. \n\nA significant reporting error has led Treasury to dramatically revise its projections for the Morrison government's JobKeeper program. \n\nThe scheme, which sees the government pay $1,500 fortnightly in affected workers' wages, was originally expected to cover around 6.5 million employees at a cost of $130 billion. \n\nBut late Thursday, the Treasury and Australian Tax Office were forced to admit to the Morrison government those projections were wrong.\n\nAs a result, Treasury's revised estimate of the cost of the JobKeeper program is now just $70 billion which is $60 billion less than the original forecast. \n\nTreasury now expects the number of employees likely to be covered under JobKeeper program to be around 3.5 million, around 3 million less than forecast.\n\nMr Abetz told Sky News host Chris Kenny 'the important is if you make errors, make them in the way it was done in this occasion'. \n\nHe said the 'worst thing' that could have happened is if the nation had to spend over predicted estimates, as opposed to what has happened in this instance. \n\nImage: Getty Not if this was done by a labor government hey sky news!!!!! It's $70B in unspent stimulus in an economy with an unemployment rate in double figures and businesses going out the back door everyday. How fantastic is that 😏 Yeah SARGE whatever you recon
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