Ilan Noy, Te Herenga Waka — Victoria University of Wellington
Many countries are spending record amounts to support people and businesses affected by COVID-19, but we need to scrutinise fiscal support because it’s money we’re borrowing from future generations.
The Morrison government will provide a flat $1,500 a fortnight JobKeeper payment for businesses to retain or rehire nearly six million workers, in a massive $130 billion wage subsidy scheme.
Scott Morrison will unveil a $1.1 billion package to make Medicare telehealth services available during the coronavirus pandemic and to support mental health, domestic violence and community services.
NSW and Victoria are shutting down non-essential services and activities over the next 48 hours, and the federal government has announced it will widen eligibility and increase income support as the coronavirus crisis escalates.
Small and medium-sized businesses will get up to $100,000 in cash payments in the government’s second stage of emergency assistance, worth a huge $66 billion, to cushion businesses and individuals as the coronavirus cuts a swathe through Australia’s economy.
The federal budget will be delayed until October 6, as the demands of dealing with the rapidly moving pandemic and the impossibility of forecasting have made the May timetable impossible.
Morrison has stressed Australia is not in shut down. Not officially. But out of a combination of alarm, caution and government measures to contain the virus’s spread, many activities have shut down and more do so every day.
The federal-state national cabinet is being dubbed a “war” cabinet, as the government rushes to meet the social, health, and economic demands of the rapidly escalating coronavirus pandemic.
With the announcement of mandatory self-isolation, the escalation of the coronavirus has forced Morrison to take a less optimistic, more pragmatic stance.
Michelle Grattan talks about the week in politics, including the worsening coronavirus situation, and the specifics of the government’s $17.6 billion stimulus package.
The government has announced it’s $17.6 billion stimulus package, focused on investment in business, boosting cashflow, and putting cash in the hands of lower income earners.