Labor is disappointed that the federal government is ‘turning off the tap’, with Job Keeper payments set to reduce from today.
More than 100,000 Gold Coasters are set to be affected by the changes, with the fortnightly $1,500 payment reduced to $1,200 for both full time and part time workers.
The electorate of Moncrieff will be the hardest hit, with the changes to affect over 10,000 businesses and nearly 40,000 workers.
Labor Senator Murray Watt told myGC it’s disappointing the federal government is reducing funding just when it’s needed most.
“I think everyone realises that Job Keeper can’t survive forever, but we also know that the economy is still incredibly fragile.
“We’ve got nearly a million people unemployed around the country, and we’re expecting another 400,000 to lose their jobs before Christmas.
“So we’re really just hitting the start of this recession, and it’s the worse possible time to be pulling money out of the economy.
“We need the government to keep pushing money into the economy so that businesses stay afloat.
“Labor recognises that this money will have to stop at some point in the future, but you don’t turn off the tap just when the recession is starting to kick in,” Senator Watt said.
There are concerns the Gold Coast will be hardest hit within the Sunshine State by the changes, due to our reliance on tourism.
“When you look at the suburbs affected by Job Keeper, most of the top ten suburbs in Queensland that are relying on Job Keeper are on the Gold Coast.
“And that just shows how important Job Keeper is to the Gold Coast.
“It’s no surprise when you look at the impact on the tourism industry and we’re looking at international borders being shut for a long time to come and that’s going to keep having an impact on our local tourism industry.
“So I think the Gold Coast will feel the pinch pretty much more than anywhere else in Queensland, when the Job Keeper payments get cut,” Senator Watt said.