Business
Senate estimates: Recovery a bonus boost to budget – The Australian Financial Review
The federal government’s deficit is shrinking rapidly as lower unemployment increases tax collections and reduces government spending.
A drop in the unemployment rate to 5.8 per cent from a pandemic peak of 7.4 per cent and a tighter enforcement of job search requirements has slashed welfare payments, leaving overall government spending on them $12.3 billion lower than they were expected to be by February.
This has been driven by $4.4 billion lower JobSeeker payments and a drop in demand for a range of grants and subsidies, including the $90 billion JobKeeper payment which ends on Sunday with just over 1 million people still covered…
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