Australia’s Prime Minister Scott Morrison announced a $130-billion package to help businesses stay afloat during the coronavirus crisis. He said the plan was to pay businesses up to $1,500 per fortnight for each of their employees for the next six months (at least), provided there were no dismissals.
The policy will affect six million Australians and is part of the government’s third round of measures to help keep businesses afloat and amounts to 70 per cent the average wage of an employee in the hard-hit hospitality or tourism sector; and 100 per cent the minimum wage. The payment will be the same for all employees, regardless of their salary level and would not cover superannuation.
Australia’s Finance Minister Josh Frydenberg said the payment would be available for both full and part-time wage earners as well as sole traders and casuals provided they have been with their employers for more than 12 months, however the program would not apply to temporary visa holders.
Payments will begin in May but will be backdated to 1 March, and he suggested that employees who have been let go during that time talk to their employers.
The government also lifted the partner income test for Centrelink to $79,000 per year from $48,000.
“We want to keep the economy running through this crisis, it may run in idle for some time, but it must run,” said the Prime Minister, adding that a “weekly tele-presence meeting” will be set up between leaders of the government and opposition to discuss the upcoming measures. Mr Morrison added that the legislation could be a “bit complicated” and would need time to be drafted.
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