Marise Payne (NSW, Liberal Party, Minister for Foreign Affairs) Share this | Hansard source

I move:

That this bill be now read a second time.

I seek leave to have the second reading speech incorporated in Hansard.

Leave granted.

The speech read as follows—

2020 makes a narrow extension of the current time limit on payment rules authorised by the Coronavirus Economic Response Package (Payments and Benefits) Act2020 which allow the Treasurer to establish the JobMaker Hiring Credit scheme.

As announced last night, this scheme will operate from 7 October 2020 until 6 October 2022.

Youth unemployment has increased due to the COVID-19 pandemic. The JobMaker Hiring Credit will help to accelerate growth in employment during the recovery by giving organisations incentives to take on additional employees that are young job seekers aged 16 to 35 years old.

The JobMaker Hiring Credit will be available to employers for each new job they create over the next 12 months from 7 October 2020 for which they hire an eligible young job seeker.

This will help young people access job opportunities and rebuild their connection to the labour force as the economy recovers from the effects of the Coronavirus.

This payment is a key part of the Government's plan to assist the economic recovery from the Coronavirus pandemic.

Full details of the measure are contained in the Explanatory Memorandum.