ScoMo to shaft unemployed and hand billions to businesses

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On Friday, Prime Minister Scott Morrison gave another indication that the JobSeeker (formerly Newstart) payment to unemployed Australians would revert back to its pitiful $40 a day level from late September:

Mr Morrison indicated there would be no extension of eligibility criteria and JobKeeper and JobSeeker, the latter of which was a doubling of the dole payment, would run until the end of September as legislated and then no more.

“We will continue to provide those supports,” he told Parliament. “But I’ll say this also: we’re now on the road back. It’s not about going further down.”

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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.