Business
Jobkeeper cuts to strip $9.9bn from Australian economy by Christmas, report says – The Guardian
Figures released as OECD predicts Australia to grow 2.5% in 2021 lagging most major economies
Cuts to jobkeeper wage subsidies will take $9.9bn out of the economy by Christmas, with a $1.52bn reduction in fortnightly support from late September, according to the McKell Institute.
The release of the report on the future of the Morrison governments signature economic policy comes as the OECD warns against premature budgetary tightening at a time when economies are still fragile.
The OECD, in its September interim economic outlook, finds Australias economy is set to shrink by 4.1% in 2020…
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