Economics
Australia Sticks to Plan to Reduce JobKeeper Support for Now
- JobKeeper payments are scheduled to decline in late September
- Melbourne lockdown is set to delay recovery from recession
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Australia’s government still plans to start dialing back its JobKeeper wage subsidy at the end of next month, but will respond to developments as they arise, Finance Minister Mathias Cormann said.
The program, designed to keep idled workers linked to their employers, is set to decline from A$1,500 ($1,073) to A$1,200 a fortnight at the end of September. That’s soon after a lockdown in the nation’s second-largest city of Melbourne is scheduled to end.