Australia open to UK-style wage subsidy to ease coronavirus pain, Cormann says

As economic chaos spreads, finance minister says government is moving toward wage guarantee

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Mathias Cormann has confirmed the government is moving towards a UK-style wage subsidy scheme as it seeks to save what it can of the economy during the coronavirus crisis, but insists it can only be done through existing systems.

The prime minister, Scott Morrison, had previously been reluctant to install a government-backed wage guarantee, claiming it would take too long to build a new payment system, and would lead to inequalities in government assistance, with higher income earners receiving more.

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from World news | The Guardian https://ift.tt/3bCQBrd