BEN FORDHAM:
Well the Federal Government is giving us some more cash, an additional payment of $750 to five million people on welfare as well as other concession card holders. The money will hit bank accounts later in the week. This is the second such pandemic during the global Coronavirus pandemic and the Federal Treasurer Josh Frydenberg is live on the line, good morning to you Treasurer.
JOSH FRYDENBERG:
Good morning Benjamin.
BEN FORDHAM:
Why do we need another $750 going to five million people?
JOSH FRYDENBERG:
Because people on income support need our help at a time of great difficulty, namely the COVID crisis, and five million Australians will get this $750 including pensioners, veterans, eligible concession card holders, whether you’re on a seniors health care card or on family tax benefits, you can benefit from this payment and it builds on the earlier payment that we made back in March to support millions of Australians back then.
BEN FORDHAM:
So those on JobSeeker who are currently looking for work and receiving $550 a week, they won’t be eligible for this correct?
JOSH FRYDENBERG:
That’s correct. Those who are getting the $550 fortnightly Coronavirus supplement will not be getting this additional payment. But I mean there’s still five million Australians who are going to benefit.
BEN FORDHAM:
And childcare, free childcare comes to an end today so that’s not the greatest of news for people but eventually we had to return to normal on childcare, didn’t we?
JOSH FRYDENBERG:
Well Ben what we’ve sought to do here is put in place a transition arrangement, so the childcare subsidy is coming back and that’s seen the Government provide more than $8 billion a year to families. There’s also a special payment to providers worth more than $700 million which is a proportion of their revenue in the pre-COVID period. We’ve also eased the activity test, so if you’re doing less hours you may be eligible for up to 100 hours of subsidised childcare over a fortnightly period, and for those who are in Victoria where they have been particularly affected by this second wave of cases, we’ve made extra arrangements there.
BEN FORDHAM:
What about all the people who have been working through the pandemic and they are crying out at the moment for a little bit of income tax relief, and I know that you’ve foreshadowed there might be some income tax cuts coming. Can they be brought forward? Have you got a light at the end of the tunnel for all those hard workers out there Treasurer?
JOSH FRYDENBERG:
Well as you know the last election was pretty much fought around higher taxes and lower taxes and we were ones for lower taxes and our opponents were putting forward $387 billion of higher taxes. So we always look for opportunities to cut taxes and that’s what we will continue to do. Importantly, small business tax rates came down for more than three and a half million small businesses who are benefitting from that, and households will continue to benefit from our legislated tax cuts.
BEN FORDHAM:
And on JobKeeper, I know that you’re going to be making some announcements on what industries might continue with JobKeeper, you would have made up your mind by now I’m guessing?
JOSH FRYDENBERG:
We know where we’re going, that’s for certain, and we know that it is going to continue to support those who need it. Both the Prime Minister and I have been very clear that there will be another wave of income support Ben, coming to the community, recognising that we’re not out of the woods just yet.
BEN FORDHAM:
So when will we find that out?
JOSH FRYDENBERG:
That will be announced on the 23rd together with an update into our economic and fiscal position as a country, so the key economic forecasts like growth, like debt and unemployment rates, we will put all of those out for people to see.
BEN FORDHAM:
Ok we will have to hang in there and wait, a lot of people keen to find that out. Before I let you go I might just ask you about some of the criticism that was levelled at Scott Morrison over the weekend, unfair criticism if you ask me because he dared go off to the footy. A lot of people having a crack at him online saying Melbourne’s in lockdown, how dare you go to the footy and drink a beer and have a couple of hours away from work. What do you say to those keyboard warriors?
JOSH FRYDENBERG:
Well I say they got that one wrong. The Prime Minister has been working extremely hard as you know, for a long period of time, and good on him for being passionate, not just about his country but about his footy, pity the Sharks had a loss. I mean, if I could go watch the Storm or Carlton Football Club I would, but I’d just have to move interstate to do it. But what it does amplify Ben is that we’re living in one country, at two different stages. While New South Wales, Queensland and other states have been opening up, Victoria has been closing down, and I saw that Anthony Albanese even supported what the Prime Minister did and I know for certain that if he thought there was any political opportunity to have a crack at the Prime Minister he would of, but he recognised I think where the bulk of the Australian public are at, namely that they support the PM.
BEN FORDHAM:
We hope that you can get back to the footy soon, for everyone living in Melbourne but it’s going to be some time off. Treasurer, good to talk to you as always, thank you.
JOSH FRYDENBERG:
Great to be with you, Ben.