Revelations at Senate estimates this morning that Treasury believe the scrapping of JobKeeper will result in 100,000 to 150,000 jobs being lost provide a chilling warning to Australia's unemployed and to all businesses that sell products to Australian consumers.
Figure: According to Treasury, removing JobKeeper to wipe out most of fall in unemployment
"It is staggering to believe the Government would even consider implementing a policy change that would cost up to 150,000 people their jobs, especially in the middle of a recession," said Dr Richard Denniss, chief economist at the Australia Institute.
"There is no doubt that a big boost in Government spending last year helped prop up the economy and keep unemployment down, and Treasury's advice today makes clear big cuts in Government spending will drive economic growth down and unemployment up. For a Government that says it's all about 'jobs, jobs, jobs' it is inconceivable they would pursue such a policy.
"Would the Morrison Government ever introduce a climate policy that cost 150,000 jobs?"
