scheme may need to be extended beyond its initial six-month period, the head of the Reserve Bank of Australia has said.
"Well, it's clearly going to be a critical point when that scheme comes to an end and also when the deferral for six months of mortgage payments and other payments that the banks are offering ... so that's a critical point for the economy," Mr Lowe said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
JobKeeper may need to be extended: RBA governorReserve Bank governor Philip Lowe told a Senate select committee there would be further job losses across the country and said the Morrison government would have to deliver fiscal support to the economy for years. Prayers and Tax Cuts for big business. This is an opportunity to really change things in our country and improve the lives of all in our society. It’s time to really consider Modern Monetary Theory (MMT) and the massive benefits it can bring if managed appropriately auspol
Source: theage - 🏆 8. / 77 Read more »
RBA Governor urges govt to consider extending JobKeeper past September | Sky News AustraliaThe Reserve Bank of Australia Governor has urged the government to consider extending its wage subsidy scheme beyond September if the economy has not yet recovered. \n\nPrime Minister Scott Morrison previously ruled out any extension of the program, which has a hard end date of September 27. \n\nSpeaking at a Senate inquiry into the response to COVID-19, RBA Governor Phillip Lowe said the end of the government stimulus will be a “critical point for the economy”. \n\n“Well, it’s clearly going to be a critical point when that scheme comes to an end and also when the deferral for six months of mortgage payments and other payments that the banks are offering,” he said. \n\nAhead of a review of the program next month, Mr Lowe said the government should make contingency plans. \n\n“It may be in six months’ time we bounce back well and the economy is doing reasonably well, and these schemes, which were temporary in nature, can be withdrawn without problems. \n\n“But if the economy is not recovered reasonably well by then, as part of that review we should be looking at, perhaps, the extension of that scheme or the modification in some way.\n\n“But I think at this point it’s too hard to say because the outlook remains very uncertain, but it’s going to be a very critical point in the economy.” This is extraordinarily evil! He is promoting handing middle Australia's wealth to the banks, Bill Gates and co, and the super wealthy. Because, no matter how you sugar coat it, this is all debasing the currency achieves. I disagree as jobkeeper is a model that is artificial ... we should let the market decide if these jobs are still viable and the rest can go on the DOLE like everyone else & reveal real unemployment figures Asking the government to cover their mistakes.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
JobKeeper may need to be extended: RBA governorReserve Bank governor Philip Lowe has warned of a post-coronavirus shadow over the economy while predicting further job losses across the country | swrighteconomy swrighteconomy The RBA has no right to speak anymore. A decade of debt pumping to achieve growth and now what do we have? A heap of debt and no growth. Can’t blame covid. They created the problem long before but ultra loose monetary policy made it far worse. swrighteconomy Central banks, Reserve Bank, the Fed, all part of the same problem . . . just keep printing money to bail themselves out and devaluing savings, income and pensions. swrighteconomy Yep, heard it here in Gosnells swrighteconomy 😉
Source: smh - 🏆 6. / 80 Read more »
JobKeeper may need to be extended: RBA governorReserve Bank governor Philip Lowe has warned of a post-coronavirus shadow over the economy while predicting further job losses across the country | swrighteconomy swrighteconomy The RBA has no right to speak anymore. A decade of debt pumping to achieve growth and now what do we have? A heap of debt and no growth. Can’t blame covid. They created the problem long before but ultra loose monetary policy made it far worse. swrighteconomy Central banks, Reserve Bank, the Fed, all part of the same problem . . . just keep printing money to bail themselves out and devaluing savings, income and pensions. swrighteconomy Yep, heard it here in Gosnells swrighteconomy 😉
Source: smh - 🏆 6. / 80 Read more »
JobKeeper may need to be extended: RBA governorReserve Bank governor Philip Lowe told a Senate select committee there would be further job losses across the country and said the Morrison government would have to deliver fiscal support to the economy for years. Prayers and Tax Cuts for big business. This is an opportunity to really change things in our country and improve the lives of all in our society. It’s time to really consider Modern Monetary Theory (MMT) and the massive benefits it can bring if managed appropriately auspol
Source: theage - 🏆 8. / 77 Read more »
RBA Governor urges govt to consider extending JobKeeper past September | Sky News AustraliaThe Reserve Bank of Australia Governor has urged the government to consider extending its wage subsidy scheme beyond September if the economy has not yet recovered. \n\nPrime Minister Scott Morrison previously ruled out any extension of the program, which has a hard end date of September 27. \n\nSpeaking at a Senate inquiry into the response to COVID-19, RBA Governor Phillip Lowe said the end of the government stimulus will be a “critical point for the economy”. \n\n“Well, it’s clearly going to be a critical point when that scheme comes to an end and also when the deferral for six months of mortgage payments and other payments that the banks are offering,” he said. \n\nAhead of a review of the program next month, Mr Lowe said the government should make contingency plans. \n\n“It may be in six months’ time we bounce back well and the economy is doing reasonably well, and these schemes, which were temporary in nature, can be withdrawn without problems. \n\n“But if the economy is not recovered reasonably well by then, as part of that review we should be looking at, perhaps, the extension of that scheme or the modification in some way.\n\n“But I think at this point it’s too hard to say because the outlook remains very uncertain, but it’s going to be a very critical point in the economy.” This is extraordinarily evil! He is promoting handing middle Australia's wealth to the banks, Bill Gates and co, and the super wealthy. Because, no matter how you sugar coat it, this is all debasing the currency achieves. I disagree as jobkeeper is a model that is artificial ... we should let the market decide if these jobs are still viable and the rest can go on the DOLE like everyone else & reveal real unemployment figures Asking the government to cover their mistakes.
Source: SkyNewsAust - 🏆 7. / 78 Read more »