“Thousands of jobs” will be lost in Greater Dandenong and Casey by the end of the JobKeeper rebate, says Bruce MP Julian Hill.
According to Treasury data, more than 8000 businesses in the Bruce electorate will be affected by the removal of the $27.6 million fortnightly payments from 28 March.
Nearly 31,000 workers will be impacted.
The Bruce electorate includes parts of Dandenong, Dandenong North, Doveton, Endeavour Hills, Hallam, Noble Park, Springvale and Keysborough.
“Businesses are worried and people will be forced to try and survive on reduced unemployment benefits,” Mr Hill said.
“Scott Morrison has no plan to create jobs and grow the economy. The Liberals’ priority is to pass new laws to make it easier for employers to cut wages.”
Across Australia, about 100,000 workers are estimated to lose their jobs. They are among more than 1 million who will lose JobKeeper.
Meanwhile, the JobSeeker supplement is being reduced from $75 a week to $25 from 31 March.
The Federal Government announced a $1.2 billion support package including 800,000 half-price airline tickets, cheap loans for businesses and aviation industry grants.
More than 350,000 current JobKeeper recipients are expected to be eligible to the Government’s expanded ‘SME Loan Guarantee Scheme’ from 1 April.
“This SME Recovery Scheme is part of the next step in our plan to help small businesses stand on their own two feet as the economy recovers from COVID-19,” Treasurer Josh Frydenberg said.
“The expansion and extension of the loans will back businesses that back themselves and will help businesses who continue to do it tough build a bridge to the other side of the crisis and keep their staff employed.”
The expanded Scheme will also increase the size of eligible loans from $1 million to $5 million. Businesses will benefit from an increased maximum eligible turnover, up from $50 million to $250 million.
Maximum loan terms under the expanded Scheme will also be increased from 5 to 10 years, and repayment holidays of up to 24 months.
