Australia estimates the required rescue package far too high

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An Australian Senate commission wants text and explanation from Finance Minister Josh Frydenberg on how the government has overestimated the amount of a job rescue package by nearly $ 36 billion.

The ministry initially said that the plan, which would help companies affected by the corona crisis to keep workers at work, would cost approximately $ 130 billion Australian dollars ($ 78 billion).

The initial stream of applications seemed to confirm that government’s estimate, but Friday, Frydenberg had to acknowledge that hundreds of companies had completed forms incorrectly. And the program is likely to cost “only” $ 70 billion ($ 42 billion).

The minister emphasized that the error is “good news”, because the costs are much lower. But the opposition sees it differently and wants to answer. She also demands that temporary workers now also be covered by the scheme.



Source link
https://www.standaard.be/cnt/dmf20200524_04969600

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