JobKeeper’s success and failure has a thousand fathers
JobKeeper’s key goal to preserve the relationship between employers and their workforce has no doubt been achieved as payroll jobs have recovered to pre-COVID-19 levels.
“As Treasury has indicated, the JobKeeper program must come to an end as the economy strengthens,” says Treasurer Josh Frydenberg. Dominic Lorrimer
This time last year in the blur of rolling out the country’s biggest financial support program, the $90 billion JobKeeper, a group of savvy Australian Taxation Office staff made a discovery that highlighted the enormity of what was taking place.
Each afternoon the ATO sends a file of daily payment instructions to the government’s banker, the Reserve Bank. The dollar value of the instructions usually bulges around tax return time, when millions of dollars flood back to households and businesses.
Matthew CranstonUnited States correspondentMatthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
