After Australia’s unemployment rate reached its highest level in 18 years, people became increasingly concerned about the long-term health of the economy. The Morrison government has prepared to reform the A$70 billion JobKeeper program and continues to increase subsidies to the unemployed.
Australian Prime Minister Scott Morrison (Scott Morrison) said that at present has not yet decided whether to extend the stimulus measures implemented by the government, but he said that he will make a decision in the July economic report. One option is to retain JobKeeper for particularly vulnerable industries and cut off the subsidy for those industries that have recovered. JobSeeker’s increased subsidies are expected to be gradually reduced, rather than completely canceled as planned on September 24.
Morrison said he hopes to continue to provide support to ensure that as few as possible Australians are affected after the stimulus policy ends. “What the government is trying to do is to ensure that we have income support, business support, targeted industry assistance measures, tax cuts… to ensure that the less unemployed in this country, the better.” Morrison’s relationship with the entertainment industry on Thursday The representatives held talks. Due to the forced closure of clubs, bars and venues, the entertainment industry is one of the hardest hit industries. The government may announce a related special plan within a few days to help them survive before the economy is fully opened. Shadow Finance Minister Jim Chalmers said that the government should make public the JobKeeper and JobSeeker reform plans. He believes that without these aids later this year, the job market and the overall economy will be hit hard. He said, “What the government needs to consider is how to deal with a more severe economic recession, a longer unemployment team and a more difficult recovery, which will also cause problems for the medium-term budget.”
