ACCI Briefing with the Hon Josh Frydenberg MP, Treasurer of Australia

Treasurer Josh Frydenberg has moved to dispel fears Australians will be worse off when JobKeeper comes to an end in March, as the country comes out of recession.

New data released by the Australian Bureau of Statistics showed that the nation’s Gross Domestic Product – or GDP – rose 3.3 per cent in the September quarter.

Throughout 2020, Australia’s GDP in total has fallen 3.8 per cent.

The Treasurer told business leaders at the Australian Chamber of Commerce and Industry zoom session that “the economy is now getting back on track” but “there’s certainly a long, hard road ahead”.

“There are a lot of Australians who are doing it tough,” the Treasurer said.

“And we will continue to be there to support them as we did from the start of this crisis, through this crisis, right to the end of this crisis.

“There are a whole range of economic measures that the government has announced that will continue well into next year and the year after.”

They include they JobMaker hiring credit, which will see employers receive support to take on unemployed workers, investment incentives for businesses allowing them to buy, sell, install, service and maintain assets, and investments in infrastructure.