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Australia Jobs in $48bn Boost

28 July 2020 by News Desk

Australia jobs market is to be boosted by a $48bn plan to create new jobs and cut taxes.

Prime Minister Scott Morrison said his top priority is to create new jobs and keep people in work.

Policies to create jobs will take priority over calls for faster tax cuts in stage two of the government’s economic stimulus.

The government has legislated personal tax cuts in three stages over the next three years but some Mps want the government to speed up the tax cuts in order to boost the economy.

A worker with a taxable income of $80,000 would receive a $1080 tax cut in the second stage while a worker on $200,000 would receive a $2565 tax cut.

With the JobSeeker unemployment benefit and coronavirus supplement due to fall from $1100 to $815 a fortnight from the start of October, employment groups has called for more funding for income support rather than tax cuts.

“It’s jobs that drive the Australian plan. Nothing else,” Mr Morrison said. “What will create a job? What will keep people in a job?”

The Parliamentary Budget Office estimates it would cost $14.1 billion to bring forward the second stage of the tax cuts by one year.

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