An extension of the JobKeeper scheme looks increasingly likely, with Finance Minister Mathias Cormann foreshadowing the announcement of conditional continued support and the unions welcoming the prospect of further assistance.
According to the ABC, details of any ongoing support for businesses and individuals are due to be announced this Thursday when Treasurer Josh Frydenberg takes time out to detail the financial damage already incurred by COVID-19.
However this morning, the Finance Minister flagged the prospect of further subsidies including JobKeeper, but with additional requirements.
“When the JobKeeper program was first announced, and businesses had to demonstrate a drop in turnover of 30 per cent or 50 per cent depending on their level of turnover, once they were in they were in for the entire six month period,” Senator Cormann told Sky News.
“As we get to the end of that six months, towards the end of September, it is going to be important to reassess which businesses still should be receiving this support.
“In the first six months, irrespective of what happened to your turnover after you initially qualified, you were in — but as we go into this next period, there is a need to reassess whether that support, you still need it for specific businesses.”
Unions have backed the concept, noting they would welcome the prospect of extensions.
“We think it makes sense that you check whether the companies are still in distress,” ACTU President Michele O’Neil told the ABC’s Insiders program.
“So that notion of just looking at what companies were doing in March, that we should have a regular, we reckon, quarterly check about whether their revenue has still dropped to make them eligible.
“But other than that, we really want to make sure that this program extends at least for six months.”
We’ll keep you updated as more details come to hand.
