100% Locally Owned, Independent and Free

100% Locally Owned, Independent and Free

Josh Frydenberg says the JobKeeper payment must end in March

Do you have a news tip? Click here to send to our news team.

Thieves target antique store in $50k heist

The owner of a Sunshine Coast antique store has been left reeling after an estimated $50,000 of goods was stolen, prompting a police investigation More

Assault ship joins war games after turning heads

An imposing assault ship that cruised past the Sunshine Coast is now among the forces involved in major multi-nation military exercise. The USS America, one More

Baby boy drowns at campsite lake in ‘unexplained death’

A baby has drowned at a popular campsite near Gympie, prompting police to appeal for information on the "unexplained" death. Homicide detectives have been called More

Six-foot python surprises rowers on island

A large python has shocked Sunshine Coast rowers who spotted it curled up in the rafters of their shed on Chambers Island. While some were More

Brewery appeals to court in trading hours dispute

A brewery has taken its battle over trading hours to the Planning and Environment Court, arguing that council-imposed restrictions are “an unreasonable imposition”. Coolum Brewing More

Retirement village set to triple in size

The only retirement village in a hinterland tourism town has officially announced its plans for a major expansion. Maleny Grove, which was acquired by a More

Treasurer Josh Frydenberg has told his coalition colleagues that it is important the JobKeeper wage subsidy ends in March as planned.

He says a Treasury review found JobKeeper is having some perverse outcomes that are preventing workers moving freely across the economy.

This has resulted in labour shortages in some areas.

“This successful and expensive program must end but other policies will fill that place,” he said, pointing to initiatives such as the government’s tax cuts.

However, economists have told Committee for Economic Development of Australia it was “very naive” to believe that the end of JobKeeper and the JobSeeker coronavirus supplement will not have an impact on the economy.

The national think tank’s annual economic and political conference takes on an international flavour on Wednesday when it will be addressed by Australia’s US ambassador and former Liberal senator Arthur Sinodonis.

His appearance comes at a time of major change in the US with the election of President Joe Biden and as China wields its enormous influence across the global economy.

At the same time, Reserve Bank assistant governor for financial markets Christopher Kent will address a Finance & Treasury Association’s foreign exchange roundtable webinar.

The central bank released the minutes of its February 4 board meeting on Tuesday, which re-emphasised the need to keep interest rates at record lows as “long as necessary” to keep the economic recovery on track.

The National Skills Commission will also release its monthly vacancy report, a guide to future employment.

Australian Bureau of Statistics figures on Tuesday showed payroll jobs rose by a further 1.3 per cent in the fortnight to January 30 to stand around the same level as last year.

Economists expect monthly labour force data on Thursday will show the jobless rate eased further to 6.5 per cent from 6.6 per cent in January as another 30,000 people joined the workforce.

Subscribe to SCN’s free daily news email

This field is hidden when viewing the form
This field is for validation purposes and should be left unchanged.
[scn_go_back_button] Return Home
Share