According to The Australian, Treasury is considering a type of borrowing program where money will be repaid once revenue returns to a
pre-determined level. Reserve Bank Governor Philip Lowe has pushed for more support for struggling industries beyond March - when the JobKeeper program ends.
geoffrey_payne Nope. Banks and lenders are going to knock that idea on the head. How can they charge exorbitant interest on business loans, if businesses can get capital from the government (at the standard interest rate) instead?
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'PlaneKeeper' to replace government's JobKeeper program: Clennell | Sky News AustraliaSky News Political Editor Andrew Clennell has labelled the federal government's $1.2 billion support package for the aviation sector 'PlaneKeeper' - pointing out the taxpayer will be responsible for footing the bill. \n\n“Today we essentially have plane-keeper to replace JobKeeper … no doubt we have taxpayer funds propping up the taxpayer here,” he said. \n\nSuggestions were aired the chosen destinations for the discounted flights were linked to marginal seats. \n\nMr Clennell pointed out Prime Minister Scott Morrison strongly denied those claims this morning.\n\nMr Morrison defended the move today, saying “I’d say it’s absurd, that’s ridiculous.” \n\n“So the government says they’ve chosen the locations for where these flights are discounted from where the airlines say they want the assistance, where there’s lower demand,’ Mr Clennell said. \n\n\n aclennell aclennell The taxpayer foots the bill for any government spending 🤷 aclennell Which other business got 1.2 mill ScottMorrisonMP needs to start acting like a real PM, all he seems to do is jump from post to post and keep the loud ones quite Qantas is a company if they can’t sort their finances out themselves it’s not a real business
Source: SkyNewsAust - 🏆 7. / 78 Read more »
JobKeeper was an 'economic lifeline in Australia's moment of crisis' | Sky News AustraliaTreasurer Josh Frydenberg says JobKeeper was an “emergency measure” which was always going to come to an end. \n\n“It was a temporary measure, it was an emergency measure, it was always going to coming to an end and we continue to create more jobs,” he said.\n\nMr Frydenberg said JobKeeper was an “economic lifeline” in Australia’s “moment of crisis” as the COVID-19 pandemic was just beginning.\n\n“We need to acknowledge what a remarkable program it was been and we need to remember that when the PM and I announced the program on the 30th of March last year Australia was staring into the abyss where treasury could see a situation where unemployment could reach 15 per cent.”\n\n“JobKeeper was an economic lifeline in that moment of crisis on it saved more than 700,000 jobs according to the Reserve Bank of Australia.”\n JoshFrydenberg Treasurer JoshFrydenberg ... JobKeeper was always going to be a Fizzer. It’s all about DonorKeeper, LNP survival and Jobs Jobs Jobs for members after politics. JoshFrydenberg That is a fair argument if industries struggling directly due to international border closures are still supported the problem is all those going from Job Keeper to Job Seeker going to a poverty rate raised 100 dollars per month on a rate not raised in a quarter of a century. JoshFrydenberg Why can't people understand that
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Labor push to extend JobKeeper is 'looking at the reality' of Australia's recovery | Sky News AustraliaDeputy Labor Leader Richard Marles has dismissed suggestions the Opposition is pushing for a “blank cheque” from the federal government to provide ongoing support for businesses struggling in the wake of the pandemic. \n\nSpeaking to Sky News, Mr Marles said Labor was asking the government to acknowledge the reality many businesses may be forced to shut down due to 10 months of repeated interruptions to business. \n\n“It’s about saying you look at what the reality of the way in which we are coming through COVID-19, what parts of the economy are being affected and then you tailor the transition of JobKeeper accordingly,” he said. \n\n“If you get that wrong … then you’re going to see really significant job losses. \n\n“We’ll lose sections of our small business landscape, but we’ll lose the jobs that go with it, and small business is the engine room, the major employer, of this economy”. \n\nMr Marles said his new super portfolio – following a Labor reshuffle last week – also put him in the position to focus on jobs and ensure small businesses stayed afloat. \n\n“The portfolio is about making a statement and putting a focus from the Opposition on the question of jobs,” he said. \n\n“Making it clear that what we intend to talk about and prosecute between now and the next election is the whole question of jobs and secure employment in this country.” \n \n\n\n RichardMarlesMP Unemployment down to 6.6%, staff wanted signs everywhere. Time to return to normal and watch the unemployment rate fall further. 👍 RichardMarlesMP 800 Are His - He Should Be In Jail! 801arehisheshouldbeinjail RichardMarlesMP Both sides can fuck right off. Most money went to people who didn't even work in the first place.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
More than one million on JobKeeper in March quarter | Sky News AustraliaTreasurer Josh Frydenberg has told Sky News 1.3 million Australians will still be on JobKeeper when it wraps up next month.\n\n“You can only go on what treasury had forecast which was around 1.3 million people,” Mr Frydenberg told Sky News.\n\nMr Clennell said the figure is 10 per cent of Australia’s 13 million workers.\n\n“We’ve previously flagged how the government is expected to come up with a stimulus package to replace JobKeeper,” he said.\n\n'Looking at that, they would want to or things could really come off a cliff given the numbers of workers, 10 per cent of Australia’s workers subsidised by government at the moment.”\n JoshFrydenberg JoshFromUnAccountables AGAIN has .... JoshFrydenberg April will be small business Armageddon in Melbourne. JoshFrydenberg Not really stopped then, is it. Not so good with budgets is old mate Josh.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
How JobKeeper turned into profit makerIt's quite likely JobKeeper could end up being the biggest corporate welfare scheme Australia has ever run, with billions of taxpayer dollars transferred into the pockets of the wealthy, writes Ian Verrender. Or the cases where your boss took all the jobkeeper, as your wage and hours remained exactly the same. Or the cases where hours actually escalated to 50+ a week, and no overtime paid. Free money for the boss. Then no pay reviews held last two years. Rorts everywhere. All parties said this was going to happen, but it was a bipartisan decision to get the money out there as soon as possible anyway. 👍 Yes some companies have rorted the system, some are even going to give the money back. But all parties in my opinion made the right decision. 👍 So it’s up to these profitable businesses/companies to keep their employees - given the generosity of the government, who will now milk ordinary strugglers to pay down the debt self funding cycle tied to the private banking and financial sector. Economic Ineptitude!
Source: abcnews - 🏆 5. / 83 Read more »