Coronavirus stimulus package to include jobkeeper paymentsMarch 31, 2020

On 30 March 2020, the Australian Federal Government announced a third round of stimulus support measures to deal with the deepening economic crisis as a result of the COVID-19 lockdowns. The third round measures, costing $130 billion, now bring the Federal Government’s stimulus spending to well over $300 billion, representing an unprecedented 16 per cent of Australia’s GDP. This is the highest level of Australian Government spending in the nation’s history. The centre piece of the third round support measures, entitled ‘JobKeeper Payments’ are effectively aimed at providing wage subsidies for employers to retain workers during these difficult times. The $130 billion package is expected to provide wage support to over 6 million workers in Australia over the next 6 months.

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