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Government Considering Slashing JobKeeper Payment Early

Government considering slashing JobKeeper payment early

The government is considering cutting the JobKeeper payment early because of fears it’s creating “zombie” companies.

Deloitte’s Chris Richardson told news.com.au the wage subsidy is putting businesses on life-support that will disappear as soon as it’s removed.

As a result, workers will be forced onto unemployment benefits.

“One pandemic is enough for a lifetime and there is a risk that JobKeeper, as a measure designed to preserve jobs, could eventually create ‘zombie firms’ that neither fully recover but don’t go bankrupt.

“This would slow the broader recovery.”

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