Cruel Frydenberg rules out JobSeeker lift

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Yesterday, Treasurer Josh Frydenberg told the ABC that his government would not lift the permanent rate of the JobSeeker unemployment benefit when the Coronavirus supplement expires in late March:

Frydenberg said the government had made a point during the pandemic of not baking in structural spending – spending that carries on in perpetuity.

Asked about the outlook for jobseeker after March, the treasurer said “every dollar we’ve spent through this crisis is a borrowed dollar” and he noted that thus far, “we haven’t built in structural spending for the longer term”…

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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.