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

He said:

The relatively smooth transition from JobKeeper 1.0 to 2.0 gives us reason to believe that the effects will again be moderated by the strong economic and labour market recovery, the ongoing easing of restrictions, the changes that businesses have been making to their operating models and broader policy support measures that are in place.

The Secretary of the Treasury went on to say:

It is important to consider labour market disruptions at the end of JobKeeper in the context of the normal flows into and out of employment.

He went on to say:

So the flow of people out of JobKeeper positions is within the normal flows of employment that we regularly observe.

The Secretary of the Treasury told the committee today:

In our view it is appropriate for the program—

that is, JobKeeper—

to end as other support measures take effect and to allow the economy to continue adjusting.

He went on to say:

As noted in Treasury's JobKeeper Review, the program has a number of features that create adverse incentives which are likely to become more pronounced as the economy recovers.

Dr Leigh interjecting—

See this speech in context