Just some further clarity re: JobKeeper...>

AUSTRALIA: Just some further clarity re: JobKeeper tapering/tiering and

Jobseeker payments, as the initial headlines that hit broader wires weren't the

best:

- Per the Sydney Morning Herald: "The Morrison government will cut the JobKeeper

wage subsidy at the end of September to A$1200 a fortnight for full-time workers

and to A$750 for part-time workers, down from the current single rate of A$1500.

The scheme is being extended for six months, until March 28 next year, but will

be revised down further at the start of January to A$1000 for full-time workers

and A$650 for part-time employees working 20 hours a week or less. The JobSeeker

coronavirus supplement will also be reduced at the end of September from A$550

to A$250 a fortnight, meaning those without a job will have their payments cut

back to about A$800 a fortnight under the unemployment scheme...The reduced

supplement will be added to welfare payments until the end of the year, when the

government will reassess the economic situation, but Prime Minister Scott

Morrison said the government anticipates it's likely there "would need to be

some continuation of the COVID supplement post-December"."