Josh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Hansard source

This is a very difficult time for Australians and a very, very difficult time for the Australian economy. It's a devastating global pandemic with a major economic shock. As a result, this government has acted decisively and comprehensively with $320 billion worth of economic support—equivalent to 16.4 per cent of GDP.

When it comes to the JobKeeper program, the forecasts were for around six million people to access it. As the Prime Minister has said to the House, and as I've said today, currently, based on the 800,000-plus businesses that have formally applied to the JobKeeper program, that covers around 5½ million Australian workers. As I said in my ministerial statement, more than a million people are on the jobseeker payment. As the honourable member will know, we've effectively doubled the previous support through Newstart with a $550 jobseeker coronavirus supplement.

These are temporary, these are targeted and these are proportionate measures. When it comes to the JobKeeper program, when it comes to the cash flow boost, when it comes to the early access to superannuation and when it comes to the $750 cash payment, we've seen more than $25 billion go out the door. The secretary to the Treasury, well known to those opposite and respected by both sides of this House, said to the COVID Senate committee that the money is running out remarkably quickly, and that is the point. We are doing everything we can through the existing systems to get the financial support to the people who need it most.

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