Australian Industry Group CEO Innes Willox believes the $130 billion JobKeeper scheme must run its full course, and it should be extended beyond the current end date of 27 September if necessary. He has also cautioned against any move to reduce the amount of the wage subsidy, which is currently $1,500 per fortnight:
“Consideration should also be given by the government to extend the period of the scheme, should conditions warrant it,” Mr Willox said. “However, employers would not want to see any change in the minimum period over which the JobKeeper scheme will be paid or a phasing down in the amount of the JobKeeper payment. Changes of this sort would dramatically undermine business plans that have already been put in place.”
Meanwhile, economists have warned that ending welfare payments too quickly could destroy the recovery:
