In a considerable development, the Australian PM, Mr Scott Morrison has declared a $130 billion package to help businesses preserve jobs amidst coronavirus crisis. Mr Morrison’s “Job Keeper package” involves an allowance of $1,500 per employee per fortnight for the next six months.
Mr Morrison notified:
- About 6 million Australians are likely to benefit with this package over the next 6 months.
- Employers will receive this flat payment from the government to give salaries to their employees.
- Businesses that had a fall of ~30 per cent in their turnover because of coronavirus qualify for the scheme.