Just raise the JobSeeker rate, ScoMo

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Prime Minister Scott Morrison has thrown 1.5 million unemployed Australians a temporary lifeline, extending the JobSeeker supplement to the end of March:

The Australian understands cabinet’s expenditure review ­committee signed off last week on extending the coronavirus supplement payment beyond December 31, when it was due to expire.

The welfare payment boost is now expected to run in line with the JobKeeper wage subsidy program that ends on March 28 — but at a lower rate than the current $250 supplement and subject to final tick-off by cabinet.

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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.