Almost half the workforce will receive $1500 a fortnight for the next six months under a record $130 billion wage subsidy, news of which drove the biggest jump in the sharemarket for 40 years.
Unveiling the massive bailout, Prime Minister Scott Morrison expressed hope but could not guarantee that it would be the last major spending package needed to deal with the coronavirus crisis.
Loading...
Phillip Coorey is the political editor based in Canberra. He is a two-time winner of the Paul Lyneham award for press gallery excellence. Connect with Phillip on Facebook and Twitter. Email Phillip at pcoorey@afr.com
