Much of Australia’s fiscal support will disappear by the end of this month when the government’s ‘JobKeeper’ salary subsidy program ends.
Australian Finance Minister Josh Frydenberg on Tuesday said that once JobKeeper expires later this month, the government will no longer bear economic spending.
The end of the program will force the administration of Prime Minister Scott Morrison to think twice before they implement the closure of the country’s borders because the impact on the economy is enormous.
The $ 90 billion JobKeeper and JobSeeker programs will end on March 28, though some parties are asking to extend them.
According to Frydenberg, the program should be terminated because its extension for up to more than 12 months would be unproductive to the economy.
In addition, the remaining AUD $ 10 billion loan deferral will also expire at the end of March.
Meanwhile, Frydenberg also said the stronger -than -expected economic recovery by the Reserve Bank of Australia (RBA) and the government, was due to support from private investment.
