DAVID KOCH:
Joining us is Treasurer Josh Frydenberg. Good morning to you.
JOSH FRYDENBERG:
Good morning, Kochie.
DAVID KOCH:
What do you hope this extra support of $750 will achieve? And why isn't JobSeeker on this this time?
JOSH FRYDENBERG:
Well five million Australians on income support are going to get these $750 cash payments and it will be at a cost of around $4 billion to the Commonwealth Government. It's the second such payment, and it will be used for daily expenses, whether that's food and grocery bills or indeed for rent or indeed paying down some debts. Now, it doesn't include those who are on the JobSeeker payment because they are getting a $550 a fortnight supplement, whereas the pensioners, the veterans, the carers, other eligible concession card holders, who get this $750 payment, are not getting that supplement.
DAVID KOCH:
Okay, next week you are going to give an economic statement. Is it going to be like a mini budget or is it an update on how the economy is going and whether JobKeeper and JobSeeker will be extended?
JOSH FRYDENBERG:
It's more an update as to where the Australian economy is right now with, giving a sense of the numbers of where debt levels are, growth levels are expected to be, unemployment, and other key economic indicators, as well as talking about the future of the JobSeeker and the JobKeeper programs, recognising that they end at the legislated period at the end of September.
DAVID KOCH:
Are you feeling the pressure? Even the mayor of Wyndham, earlier this half hour, was saying you've got to keep JobKeeper going past September. So many business groups are pleading for you to do it. Are you feeling that pressure?
JOSH FRYDENBERG:
Well we're focused on delivering the support to Australians as they need it, and that’s been our practice throughout this crisis. What we're seeing right now with developments in Victoria and the lockdown there, and the opening up of NSW and Queensland and other states, is one country in two stages. That's the harsh reality of what we’re seeing with the spike in cases in Victoria. As you know, schools for many of the students are not coming back this term. What you are seeing is much less traffic on the streets, less traffic through the retail shops, people wearing masks, it’s a very different situation..
DAVID KOCH:
So, you’re indicating you could extend JobKeeper in special circumstances?
JOSH FRYDENBERG:
Well, what both the Prime Minister and I have consistently said, Kochie, is that there will be another phase of income support…
DAVID KOCH:
Okay, so yes, that’s good.
JOSH FRYDENBERG:
It will stick to the principles that have guided us well. It will be targeted, it will be proportionate, it will be scalable, and it will be using existing systems. We recognise the need out there and the Government, as has been the case to date, will continue to be there for the Australian people.
DAVID KOCH:
Okay, good to know. Treasurer, appreciate your time, thank you.
JOSH FRYDENBERG:
Always good to be with you.