Business
Big cheques and big spending needed to get 135,000 people into work – Sydney Morning Herald
Two new reports show the Morrison government may have to spend up to $60 billion extra to get unemployment down below 6 per cent.
EY chief economist chief economist Jo Masters said an extra $750 support payment, worth $3.4 billion, would also smooth over an income cliff facing the country as support measures such as JobKeeper and the coronavirus supplement are wound down.
“We know that the economy will be weaker and unemployment higher without additional fiscal stimulus, and that spending needs to both ease the income cliff and start to boost aggregate demand in the economy, which is what will drive jobs,” she said.
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