The $90 billion JobKeeper wage subsidy ended yesterday.
Regular readers will know that I was Luke warm on this scheme from the outset. While I agreed wholeheartedly that generous emergency income support was needed at the beginning of the coronavirus pandemic to stave-off a depression, I instead argued for a $1500 temporary three-month universal basic income to be paid to every Australian taxpayer and welfare recipient. This, I argued, was far simpler than JobKeeper and other stimulus payments, treated everybody the same, and thus avoided ‘picking winners’ and leaving losers.
Instead we got JobKeeper – the $1,500 per worker wage subsidy […]
Full Post at www.macrobusiness.com.au