Morrison Government’s stimulus 2.0 better, but not good enough
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The Morrison Government has announced that it would introduce a ‘welfare wage’ to help those made unemployed to ride out the coronavirus:
Hundreds of thousands of workers who face losing their jobs due to the coronavirus crisis will be given fast access to a new, temporary wage that will be set at a higher rate than the dole.
The new transitional income support will be a central feature of a forthcoming package that will be more about survival than stimulus, and which, sources say, will dwarf last week’s $17.6 billion package of economic measures aimed at stimulating supply and demand.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.