Treasurer Josh Frydenberg believes most people will be banned from the JobKeeper program by the end of March, making it no longer fit for purpose

According to new preliminary data from the Australian Tax Office, there were around 140 in January compared to the previous month000 fewer companies in the wage subsidy program and almost 600000 fewer people

The Treasury Department now expects the number of people to be dependent on the payment in March to be around 1.1 million, a reduction of 200000 versus 1Estimated 3 million in the mid-year budget review published in December

“From the 1We assume that the majority will retain their existing jobs in the March quarter after the program is completed,” said Frydenberg on Wednesday at a conference of the Australian Chamber of Commerce and Industry in Canberra

He admits that JobKeeper’s transition will be difficult as some companies need to make adjustments and workers need to look for more sustainable roles

He said the next phase should target those in need without getting in the way of the general economic recovery

“In the coming weeks we will have more to say about targeted support for various sectors and industries”


World news – AU – Most of JobKeeper until March: Frydenberg