Mr Wright told Sky News RBA Governor Phil Lowe was “emphatic” that the government should not “pull fiscal support out too early”.
“There are those inside the government, right, let’s try and race back or get back to some sort of semblance of that budget surplus that was so tantalizingly close to them, they want to get back in that space,” he said. “But the banks can’t do any more. “So the argument that we have to leave the heavy lifting to the Reserve Bank, it’s null and void now so Josh Frydenberg is actually going to have to come out with ways to support the economy over the next year, 18 months.
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Rolling back government financial support 'completely untenable' for small business | Sky News AustraliaLabor frontbencher Stephen Jones says it is “completely untenable” for the government to roll back all its financial support schemes as businesses would undergo an “almighty crash”. \n\nThe Reserve Bank has appealed to the government to extend its Jobseeker and JobKeeper payments beyond the September deadline, as well as push for a plan to guide businesses out of the loan deferral scheme. \n\nMr Jones told Sky News that small businesses alone had accrued $60 billion worth of loan deferrals. \n\nHe said if businesses were forced to pay all deferred fees and loans at once “they are simply going to close the door, throw their hands in the air and say to their workers ‘sorry we can’t keep you on’”. \n\n'Banks are going to have to have some certainty from the government what sort of support is going to be available to some of those industries ,” he said. \n\n“If we can save a viable business and if we can ensure a viable business has a plan to get out of the crisis then we should do everything we can to ensure that we do that. \n\n“It’s worth the effort, it’s worth the investment to have government working together with the banking a sector and the small business sector to put in place an integrated package.” \n\nImage: Getty \n
Source: SkyNewsAust - 🏆 7. / 78 Read more »
‘COVID-19 welfare burden’ should be ‘shared’ by the three levels of government | Sky News AustraliaQueensland Shadow Tourism Minister David Crisafulli says “the states can’t be let off the hook” and need to support the federal welfare measures and take responsibility for the economic fall out of the coronavirus. \n\nThe Sydney Morning Herald is reporting “the Morrison government is considering revamping elements of its JobKeeper wage subsidy scheme to avoid a $100 billion dollar financial cliff beyond September as it works with banks to help hundreds of thousands of Australians once mortgage deferrals end”. \n\nMr Crisafulli told Sky News host Peter Gleeson, it was 'going to be a massive balancing act”.\n\n“The states need to have better programs for loans and grants that reflect the needs of those most worthy of those grants”. \n\n“You need to make sure the taxpayer money is hitting the spot in the right ways,' he said.
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Government must do 'much better' to support Australians: Albanese | Sky News AustraliaLabor leader Anthony Albanese has called on the Morrison government to provide an economic plan to guide Australian businesses and neglected sectors out of the coronavirus crisis. \n\nSpeaking to the media on Friday, Mr Albanese said “the government has continued to show contempt” and has allowed people to be left out of support schemes such as the JobKeeper program. \n\n“These are people who have paid taxed their whole lives” but have now been “forgotten by the government,” he said.\n\n“We need to do much better.\n\n“What we actually need is a government that actually looks at a transition ... we need a transition in terms of JobKeeper and support. \n\n“We also need specific sector programs, and the arts and entertainment sectors are ones that stand out as needing support in order to maintain viability. \n\n“This is important not just for our national economy, it attracts international dollars in terms of tourism and economic activity as well.” \n\nImage: News Corp Australia AlboMP They are it's called the Budget AlboMP What a genius idea, I wonder if the govt in power have thought of that yet. AlboMP wow each way Albo is really quick. I am pretty sure Scomo did that at the press club on Tuesday. I know Scomo has more of clue how to get us out of the associated covid economics crisis than you do.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Government made it 'very clear' JobKeeper had a 'sunset clause' | Sky News AustraliaLiberal frontbencher Jane Hume says the government’s wage subsidy programs “always had an end date” following RBA calls to extend the JobKeeper program. \n\nThe RBA on Thursday urged the government to consider extending the JobKeeper scheme beyond the government’s September deadline. \n\nMs Hume told Sky News it was “very clear from the beginning of the COVID-19 crisis that the economic measures that were put into place by the government were always going to be temporary and targeted and proportionate and scalable”. \n\nShe said when the deadline approached, “there would need to be some sort of transition beyond that”. \n\n“That’s why the Prime Minister has introduce the idea pf a ‘JobMaker’ program and heralding a new era of cooperation between business and unions and government,” she said. \n\n“So that we’re all moving towards an economy that has a higher rate of growth that creates more jobs and is far more stable when it comes out the other side of this crisis.” \n\nImage: News Corp Australia SenatorHume Talking about ending JobKeeper before the first payments were made didnt instill confidence though did it? SenatorHume Extend it or end up ina depression SenatorHume Sure. You also probably screwed up on picking an end date. Just like you screwed up on 'we've got to draw the line somewhere' to the tune of 60bn.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
More than 6,000 Victorians fined for coronavirus restriction breaches | Sky News AustraliaVictoria has issued almost three times more fines to its residents for flouting coronavirus restrictions than any other state. \n\nAlmost 6,000 Victorians have been fined for breaking lockdown rules since coronavirus measures were imposed in the state. \n\nDeputy Commissioner Shane Patten said it was likely due to the fact Victoria had some of the nation's toughest coronavirus restrictions as well as the most police out in force with 500 officers dedicated to a task force.\n\nQueensland has issued about 2,000 fines, followed by New South Wales with 1,290 fines.\n\nMeanwhile, Cedar Meats Abattoir - which was at the centre of the state's largest coronavirus cluster - reopens today with up to 300 staff returning to the site. \n\nImage: News Corp Australia\n\n How else are the kulaks from the ALP supposed to maintain their lifestyles? We love to make money , oh yeah👏👏👏👏👏 Chairman Dan. The gift that keeps on taking ......
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Casual work reform on national agenda | Sky News AustraliaThe government could make it easier for casual employees to request permanent employment under a fresh push to transform industrial relations across the country. \n\n Prime Minister Scott Morrison will reportedly propose reform to casual work as a peace offering to trade unions.\n\nAttorney General Christian Porter also flagged streamlining the awards which outline minimum pay and conditions in the hospitality and tourism sectors to make it simpler for employers.\n\nThe government will negotiate with the Australian Council of Trade Unions and employer groups over the next three months. Wow, unions have been pushing for this for years! ScottyFromMarketing is finally listening to them... auspol Sounds like a good idea? No doubt they will not take into account things like stuttering.
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