JobKeeper extension passes Parliament

Last night Parliament passed the Morrison Government’s extension of JobKeeper which is the largest economic lifeline in Australia’s history.

Federal Member for Bonner Ross Vasta MP said more than 5200 businesses in his electorate were currently using JobKeeper.

“JobKeeper is maintaining links between employers and workers, keeping people in jobs and supporting Australian incomes during this pandemic,” Mr Vasta said.

“I have met with many business owners in Bonner who have told me without JobKeeper, they were done and since then, many of them have fortunately recovered to the point where they won’t need this extension.

“However, for those still suffering large downturns, extending JobKeeper is providing a critical lifeline until we get through this global pandemic.”

Without JobKeeper and our other economic support measures, Treasury estimates Australia’s unemployment rate would be 5 percentage points higher.

These measures have saved around 700,000 jobs.

JobKeeper was introduced in March, with a flat payment of $1,500 per fortnight for eligible employees for six months. This meant money could be distributed quickly using existing mechanisms.

For the next stage of JobKeeper – from September until March 2021 – there will be a two-tiered payment:

• For the December quarter, payments will be $1,200 per fortnight per employee, or $750 for workers who were employed for less than 20 hours a week.
• For the March quarter, payments will be $1,000 per fortnight per employee, or $650 for workers who were employed for less than 20 hours a week.

The Australian Government is also supporting jobs with a number of other measures, including:

• Payments to more than 785,000 businesses to boost cash flow.
• A 50% wage subsidy, supporting around 180,000 apprentices and trainees.
• Up to 340,700 JobTrainer places for school leavers and job seekers to upskill.
• The HomeBuilder program, supporting the residential construction industry.
• JobSeeker and the Coronavirus Supplement.
• $750 payments in April and July to millions of Australians, including pensioners.

Further details about these measures are available at treasury.gov.au

“As we work to help the economic recovery, the Government will have Australians’ backs,” Mr Vasta said.