Mathias Cormann (WA, Liberal Party, Vice-President of the Executive Council) Share this | Hansard source

I thank Senator McGrath for that supplementary question. Yes, I can. The JobKeeper payment is designed to help keep as many businesses as possible in business and to help keep as many Australians as possible working for those businesses in their jobs. It is paid to the employer to reduce payroll pressures, given a significant impact to their turnover, so they can keep employees in a job rather than having to let them go. The historic wage subsidy will be delivered to around six million Australians, just under half of our working population, who will receive a flat payment of $1,500 per fortnight through their employer before tax.

This $130 billion JobKeeper package will help keep Australians in jobs as well as tackle the significant impact from the coronavirus. The payment will provide the equivalent of around 70 per cent of the national median wage. Indeed, for workers in the accommodation, hospitality and retail sectors, it will equate to full median replacement wage.