The Australian Government’s third tranche of stimulus and safety net measures will go a very long way to ameliorate the dramatic impact that the COVID-19 crisis is having on businesses, workers and their families, and the economy, according to Australia’s largest accounting body CPA Australia.
The new JobKeeper scheme announced today – offering $1,500 per employee per fortnight and backdated to 1 March 2020 will:
· – Be of significant financial benefit to workers and their families
· – Help businesses to stay open during the crisis where and when permitted
· – Keep employers and employees engaged during this period of unprecedented uncertainty
· – Speed up the business and economic recovery as we come out of the crisis period.
“The cost of this measure – an additional $130 billion over and above what has already been committed to by governments at all levels is breathtaking – but indicative of the magnitude of the health and economic challenges Australia is facing now and in the future,” Mr Drum said.
“CPA Australia will continue to work with governments and the relevant government agencies to help ensure this package of relief gets to those who qualify as expeditiously as possible.
About CPA Australia
CPA Australia is one of the world’s largest accounting bodies, with more than 165,000 members working in 100 countries and regions and supported by 19 offices globally. Our core services to members include education, training, technical support and advocacy. Employees and members work together with local and international bodies to represent the views and concerns of the profession to governments, regulators, industries, academia and the community. Visit our website: www.cpaaustralia.com.au