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The JobKeeper and JobSeeker programs are legislated to end in late-September, threatening to withdraw $120 billion of stimulus from the economy and plunging Australia into a deep economic hole:
Thankfully, Treasury secretary Steven Kennedy, has flagged a “taper” of support, suggesting it will be withdrawn gradually:
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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.