Treasury officials have confirmed that the Morrison Government’s JobMaker wage subsidy is a failure. Only 609 jobs have been created in the first six weeks of the scheme, well below initial expectations that 450,000 jobs would be created by the end of 2021.
Writing in the New Daily, The Grattan Institute has called JobMaker’s eligibility to be broadened to include Australians over the age of 35, as well as people who are not currently receiving unemployment benefits. Grattan also want more businesses to be made eligible for the scheme and for its subsidy rate to be lifted so that it provides “a more generous credit for full-time workers”.
However, Grattan also recognises that JobMaker is an inherently flawed program and has recommended abolishing it altogether in favour of “an incremental payroll tax rebate, as proposed by economist Peter Downes“:
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