Australian Treasurer Josh Frydenberg said Australians could look forward to a “bright summer” as COVID-19 restrictions ease across the states and the economy recovers. Frydenberg told parliament during question time that the federal government had already spent $17 billion to support the households and businesses during the pandemic. “This has helped support households and businesses…
Australians Can Look Forward to a ‘Bright Summer’ as Economy Strengthens: Frydenberg
‘Extraordinary’ State Authority Must End as Australians Learn to Live With COVID-19: Treasurer
Australian Treasurer Josh Frydenberg said the “extraordinary” powers given to state premiers during COVID-19 should slowly diminish as the economy bounces back and life returns to normal. “The pandemic’s been pretty unusual in the sense it’s elevated the role of premiers to a prominence, I suspect, they haven’t had for decades,” Frydenberg told The Australian…
New Stock Rebate up to $20,000 for Small Businesses in NSW
The New South Wales (NSW) government has announced new financial support measures to help build confidence in small businesses to invest in re-opening from lockdowns fully. Eligible businesses with an annual turnover between $75,000 and $50 million will be able to claim a grant of up to $20,000 for perishable goods or $10,000 for non-perishable…
Record High Number of Australians Working Multiple Jobs
A record number of Australians are juggling two or more jobs as COVID-19 lockdowns and restrictions push workers into the gig economy, the Australian Bureau of Statistics (ABS) has revealed. Newly released data from the ABS revealed that 6.5 percent of the Australian working population now had more than one job during the June quarter,…
One in Three Sydneysiders Lost Work Hours and Jobs During Lockdowns
One in three people in Sydney have lost employment hours or their job completely during the extended COVID-19 lockdown, a survey has found. A poll of 1002 Greater Sydney residents conducted by online financial broker Savvy in August found that 12 percent of respondents lost their job, and 22 percent were working reduced hours. Financial…
Economic Growth Figures Mask the Real Pain of Australians Under Lockdown
September 6, 2021
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Commentary Headline economic numbers do not reflect the hardship many Australians are enduring under prolonged lockdowns. The thousands of Australians who have had their jobs and businesses destroyed will find little solace in the fact the June quarter saw growth in Australia’s economy that has staved off a second official recession in two years. The…
Australia’s Account Surplus Reached Record High $20.5 Bn in June Quarter But Difficult Days Ahead
Australia recorded its highest account surplus over the June quarter on the back of iron ore exports while domestic economic activity also increased. The Australian Bureau of Statistics (ABS) released figures on Tuesday that said Australia’s current account surplus increased by $1.5 billion (U.S.$1.1 bn) to a record $20.5 billion (U.S.$15 bn) in the June…
Australia’s Trade Surplus Reached Record High $20.5 Bn in June Quarter But Difficult Days Ahead
Australia recorded its highest account surplus over the June quarter on the back of iron ore exports while domestic economic activity also increased. The Australian Bureau of Statistics (ABS) released figures on Tuesday that said Australia’s current account surplus increased by $1.5 billion (U.S.$1.1 bn) to a record $20.5 billion (U.S.$15 bn) in the June…
Australian Treasurer Warns Economy Facing Challenging Times
Treasurer Josh Frydenberg has warned the economy faces challenging times ahead with coronavirus lockdowns in the country’s two major states putting jobs and businesses at risk. Economists are predicting the economy to contract by as much as four per cent in the September quarter as a result of the lockdowns in NSW and Victoria. Victoria…
Lockdowns Devastate Small Business and Leaves Economy Dominated by Large Corporations
Lockdowns have disproportionately affected workers for small businesses compared to large businesses, according to an analysis by the Institute of Public Affairs (IPA). The analysis of Australian Bureau of Statistics (ABS) unemployment data found that between June 26 and July 17, 420,000 jobs were lost—or 20,000 a day. The New South Wales (NSW) jobs sector…
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