Federal Member for Cowper Pat Conaghan has welcomed the Morrison-McCormack Government today extending the historic JobKeeper and JobSeeker support measures to help Australians through the coronavirus pandemic.
The JobKeeper Payment will be extended by six months to 28 March 2021 and the temporary Coronavirus Supplement for those on income support will be extended until 31 December 2020.
“I thank the Prime Minister Scott Morrison and Treasurer Josh Frydenberg for today announcing JobKeeper 2.0 and the extension of the Coronavirus Supplement as these temporary support measures are helping millions of Australians through the current health and economic crisis,” he said.
“I know the 5,300 businesses in Cowper receiving JobKeeper and their employees will be relieved and they will have the confidence to continue to adapt and work hard to come out of this pandemic.
“As the economy reopens the JobKeeper Payment will be tapered in the December and March quarters to encourage businesses to adjust to the new environment. It will ensure those businesses that need support to continue will be able to receive it during this time.
“From September 28, the JobKeeper Payment will be targeted to businesses that have been most significantly affected and the payment rates will be stepped down with two tiers of payments introduced.
“For those people who, because of circumstances outside of their control, are now on JobSeeker, I welcome the Government today continuing the Coronavirus Supplement of $550 per fortnight until 25 September and committing to continue it as the economy reopens at the rate of $250 per fortnight until the end of December.
“For those on JobSeeker what this means in real terms is an increase of $125 per week from the previous Newstart rate to around $405 per week. This is more than the recommendation of the NSW Council of Social Service late last year to increase payments by $75-95 per week. I will continue to advocate for this level of support into the future.
“Our region is going through a one-in-one-hundred year event and about 26 per cent of employment locally comes from the hardest hit sectors of hospitality and tourism, so this support is vitally needed.”
The Treasurer Josh Frydenberg has estimated the extension to the JobKeeper Payment until March next year will cost $16 billion. More information on the cost of these income support measures will be provided in the Economic and Fiscal Update being delivered by the Treasurer on Thursday.
For more information view the Treasurer’s media release available here.
