3 years ago
GOVERNMENT’S CHRISTMAS JOBSEEKER SNAPBACK ECONOMIC TIMEBOMB
LINDA BURNEY MP
Labor is warning that the Prime Minister’s scheduled Christmas JobSeeker snapback threatens jobs, following the release of the latest National Accounts figures.
The National Accounts shows that consumer spending in the June quarter declined by $33.5 billion, compared with the same period the previous year.
The Federal Government spent approximately $6.3 billion on the Coronavirus Supplement over the June quarter – the equivalent of almost one fifth of the total decline in consumer spending.
The Morrison Government however, is scheduled to return the rate of JobSeeker to its old base rate after December.
With the Government expecting 1.5 million Australians to be receiving unemployment payments in December, the snapback will be the equivalent of removing $375 million from the Australian economy per fortnight.
“The Prime Minister needs to clarify the impact his scheduled Christmas JobSeeker snapback will have on Australian jobs”, said Linda Burney, Shadow Minister for Families and Social Services.
“Australians who are out of work or who have had hours reduced during this crisis, are spending their JobSeeker Payments on local businesses, sustaining local jobs.”
“The Prime Minister’s snapback of JobSeeker in December is not a plan for jobs and threatens to leave out-of-work Australians behind.”
The National Accounts shows that consumer spending in the June quarter declined by $33.5 billion, compared with the same period the previous year.
The Federal Government spent approximately $6.3 billion on the Coronavirus Supplement over the June quarter – the equivalent of almost one fifth of the total decline in consumer spending.
The Morrison Government however, is scheduled to return the rate of JobSeeker to its old base rate after December.
With the Government expecting 1.5 million Australians to be receiving unemployment payments in December, the snapback will be the equivalent of removing $375 million from the Australian economy per fortnight.
“The Prime Minister needs to clarify the impact his scheduled Christmas JobSeeker snapback will have on Australian jobs”, said Linda Burney, Shadow Minister for Families and Social Services.
“Australians who are out of work or who have had hours reduced during this crisis, are spending their JobSeeker Payments on local businesses, sustaining local jobs.”
“The Prime Minister’s snapback of JobSeeker in December is not a plan for jobs and threatens to leave out-of-work Australians behind.”