Reserve Bank welcomes JobKeeper extension | Sky News Australia

JobSeeker payments will be slashed to $815 a fortnight from September as the Coalition moves to keep COVID-19 support payments until at least the end of the year. JobKeeper support will also be reduced to $1200 per fortnight towards the end of September with a lower payment of $750 for those working less than 20 hours per week. Those figures will be reduced to $1000 and $650 in the March quarter.

“I think it’s positive the government is continuing the support, it’s positive the banks have continued their support through loan deferrals,” Dr Lowe said. “And I can assure that the RBA will continue to support the economy until we are confident, we are making progress towards two to three per cent inflation and towards full employment.” Dr Lowe also said there is no need for negative interest rates in the current environment in Australia and said the Reserve Bank won’t be printing money.

This paid lackey would though wouldn't he Any chance of him growing some balls and demand some stimulus to get people in work

Of course he does. They have nothing left in the tank to mop up part of the mess they created. Cheap money, debt expansion, no growth, no savings.....ffs.

Socialism in Action.

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JobKeeper, JobSeeker extension 'assumes economic growth in next quarter' | Sky News AustraliaPolitical consultant Jim Middleton has warned that the cost of extending the JobSeeker and JobKeeper payments could exceed the government’s projections in the case of further economic downturn. \n\nThe Morrison government on Tuesday unveiled a plan to extend the JobKeeper program to March next year as well as the JobSeeker payments until the end of 2020 at lower rates from the end of September.\n\n“Now, the opportunity is there for better targeting and possibly for reduction,” Mr Middleton told Sky News.\n \n“My word of caution though is this it assumes on the part of Treasury that the economy, the improvement in growth we saw recently, will continue through the final quarter of the year.\n\n“If it does not then, of course, the number of people who will be on JobSeeker, if not JobKeeper, will increase and go above and beyond the government’s estimates on what it’s going to cost which is around an additional $20 billion.”\n\nHe said many businesses across the country had become reliant on rent and loan repayment deferrals over the last three or four months under government support schemes. \n\n“If they’re not able to return to regular levels of business then I suspect that the amount of money that is being outlaid on JobKeeper and JobSeeker will be significantly higher than is currently being estimated,” Mr Middleton said. \n\nImage: Getty jimmiddleton jimmiddleton jimmiddleton How does stopping the schemes save this country from economic downturn? Less support will throw thousands into poverty and smash disposal income that is essential to generate jobs. Debt is the global collateral damage of a pandemic. Less $ in the system now = social disaster...
Source: SkyNewsAust - 🏆 7. / 78 Read more »

Too many Australians 'left behind by JobKeeper' | Sky News AustraliaThe government's changes to the JobSeeker and JobKeeper schemes have failed to fix the obvious errors which have seen some Australians overpaid and others losing out entirely, according to Shadow Treasurer Jim Chalmers.\n\nJobSeeker payments will be slashed to $815 a fortnight from September as the Coalition moves to keep COVID-19 support payments until at least the end of the year.\n\nPrime Minister Scott Morrison also announced JobKeeper support would be reduced to $1200 per fortnight towards the end of September with a lower payment of $750 for those working less than 20 hours per week.\n\nThose figures will be reduced to $1000 and $650 in the March quarter.\n\nThe $550 JobSeeker supplement will be reduced to $250 in September but those on it will be able to earn $300 without affecting the payments.\n\n'It is very troubling ... to see unemployment rising in the September quarter, in the December quarter, and it will keep rising,' Mr Chalmers said.\n\n'We want to see the government do a much better job rolling out this new phase of government support than they did when they were rolling out the first phase.\n\n'We shouldn't forget the government has now 'fessed up to borrowing $6 billion to overpay some Australians while some Australians were unnecessarily excluded from the (JobKeeper) scheme.'\n\nImage: News Corp Australia JEChalmers Many of my colleague working 10 hours per weeks But they are eligible for $1500 per fortnight lmao JEChalmers Forever in the shadows... JEChalmers And further and further the opposition goes into irrelevancy. You've got nothing Chalmers. The only thing you can stutter out is the money borrowed and the debt. Which your party was aware of and help facilitate. Hypocrisy of the highest order.
Source: SkyNewsAust - 🏆 7. / 78 Read more »

Canavan backs JobKeeper rollback to get Australians back to work | Sky News AustraliaResources Minister Matt Canavan says he is in favour of reducing JobKeeper payments to encourage Australians to return to work.\n\n'I've heard lots of reports from small businesses in rural in regional areas they're struggling to find people, Mr Canavan said.\n\n'Sometimes people feel they can get as much on the dole effectively, and that's not a sustainable outcome. \n\n'It was necessary to help people through a crisis but some parts of our economy are getting back on deck.'\n\nThe federal government will today outline details of its expanded JobKeeper and JobSeeker support schemes, which will be extended beyond their original September end date.\n\n'The JobKeeper program is costing us $10 billion a month and what we have to do now is taper and target these support measures, he said.\n\n'We're almost certainly going to break through $1 trillion in debt in the next few years.\n\n'We have to focus on how we're going to support our economy to pay back all that debt.'\n\nImage: News Corp Australia mattjcan 13 unemployed people for every job vacancy. But sure, people need to get off their dole-bludging arses and back to work. mattjcan You first. In fact no, resign. Wouldn't pay you to pick up dunny cans. mattjcan Maybe we should reduce politicians wages to encourage them to return to work
Source: SkyNewsAust - 🏆 7. / 78 Read more »