Morrison readies unemployed crusher

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Via The Fake Left:

A low-paid Australian worker laid off during the pandemic will receive the third lowest unemployment benefit in the OECD when the coronavirus supplement is reduced, according to expert analysis.

Despite mass unemployment and an extended stage-four lockdown in Melbourne, the federal government plans to push ahead with a $300 cut to the supplement on 25 September, reducing the base rate of benefits to about $1,115 a fortnight.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.