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Australian gov't to pay businesses to keep employees

By Colin Packham and Swati Pandey

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© Thomson Reuters 2020.

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"Officials said the rate of new infections has halved in the past week under existing restrictions.."

*Japan looks on...'What is this witchcraft?'

6 ( +9 / -3 )

Listen up Japan, get serious like other countries or you will end up like the US.

1 ( +6 / -5 )

No relief for the average Tanaka or Suzuki...

-1 ( +2 / -3 )

This breaks down to a fortnightly payment of $1500 (AUD) for workers who have been stood down by the virus instead of the $800 per fortnight basic unemployment benefit. However, from the end of April the unemployment benefit will increase by $550 to $1350 because of the virus.

Australia has so far spent 15% of its GDP fighting the virus and supporting the livelihoods of its workers. Banks have put a six month deferment on mortgages and loan repayments. And, there is a current moratorium on rents to ensure people are not made homeless by not being able to pay rent.

7 ( +7 / -0 )

The realisation is slowly coming forth, is that we're all in the same boat. A Bank may foreclose on someone but who will they sell to ? A landlord may kick out a tenant, but who will they let to ? We are not in normal times. People who are good for bringing in money, are now stuck with no income - due to no fault of their own. If the Lenders desert them now, then the Central Governments should have deserted those Lenders long ago. The Landlords may have mortgages to pay, though if the Banks foreclose on them too, then the Banks will suffer too. There's a chain reaction waiting to blow up in the faces of irresponsible parties. The CCP is hoping for this to happen given the Free Market economy - however one thing they haven't counted upon, is that because we are living in a Free Market, we adapt to survive - even if that means changing the rules. So CCP you loose!

2 ( +2 / -0 )

Prime Minister Scott Morrison said the six months of funding was necessary to ensure businesses were able to retain staff and were able to bounce back when the crisis had passed.

It's good that Australia is planning for the future. The Novel virus is NOT the end of civilization. Life will go on. The best way to plan for a successful future is to protect the businesses which provide people with jobs after the "social distancing" phase is over.

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At the country's international airports, police oversaw the transfer of Australians returning home to hotels or other facilities for monitored quarantine for 14 days. The majority of Australia's coronavirus cases have been imported.

The Novel virus was exported to every country that currently has it.

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Broad socialism in times of global pandemic is tolerable, to ready us for when things blow over.

In normal times you’ll find Its acceptability more limited as people can then earn money of their own accord

-1 ( +0 / -1 )

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