World News – UA – Budget’s Job Creator Hiring Credit will pay companies $ 200 per week to employ young Australians

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The Morrison government will pay companies up to $ 200 a week to hire young Australians as part of a $ 4 billion budget measure aimed at turning the tide of rising youth unemployment for the recession

The new incentive will go to companies that employ young workers who previously received job seekers – unemployment benefit formerly known as Newstart

It follows Sunday’s announcement of an increase in training subsidies, with the government pledging to cover half the salaries of 100,000 new apprenticeships and internships

These two measures are part of the government’s response to the question of what will replace the wage subsidy for job holders and the high payments to job seekers, which the government is cutting despite criticism of the potential economic and social impact

At Tuesday’s Question Time, Scott Morrison brushed aside claims by Labor leader Anthony Albanese that ‘Morrison’s recession’ would be longer and deeper due to Prime Minister’s cuts to guardian job seeker and job seeker

« Young people can look at this budget tonight and know that this government is supporting them to find jobs, not to spend their lives on welfare, » Morrison said

Budget documents show government allocating $ 4 billion over three years to encourage organizations to hire additional employees aged 35 or under

The key criterion is that the new employee has received the jobseeker’s allowance, the youth allowance (other) or the parental allowance for at least one month out of the three months prior to being hired

The employer will also have to prove that the total number of employees has increased and that the new employee works at least 20 hours per week, on average over a shift

The hiring credit will be paid at the rate of $ 200 per week for hiring people aged 16 to 29, or $ 100 per week for those aged 30 to 35 Employees can benefit from this credit on hiring for 12 months The plan begins Wednesday, the day after the budget

Treasurer Josh Frydenberg said the budget was ‘focused on jobs’ and all businesses except big banks would be eligible for the new program

« The Treasury estimates this will support around 450,000 jobs for young people, » he told parliament during the budget presentation on Tuesday evening

« Having a job means more than earning an income It means economic security It means independence It means an opportunity We cannot let this Covid recession take this away »

Frydenberg also touched on the government’s plan to create 100,000 new apprenticeships and internships, covered by a 50% government wage subsidy This will cost the federal government $ 1 billion over four years

The aim is to « build up a pool of skilled workers » to support economic recovery, according to budget documents

Companies will be reimbursed up to half the cost of an apprentice or an intern’s salary up to $ 7,000 per quarter But rather than being demand driven, the program is capped at 100,000 places – a constraint that has already attracted criticism from Labor and others

The grant will be available to businesses of any size between October 5, 2020 and September 30, 2021, and it applies to apprentices or interns starting during this period

« The wage subsidy will support young people leaving school and workers displaced by the Covid-19-related slowdown to ensure sustainable employment, » according to budget documents

The government has revealed, however, that it will delay the launch of a previously announced apprenticeship incentive program by six months until July 2021 in order to « minimize disruption »

The budget also provides $ 263 million over four years to reform the vocational education and training system

The government has come under pressure to clarify what fills the void of job retention programs and high job search programs, as the economy is still very much in crisis

The budget documents update the expected total cost of the postal worker wage subsidy: $ 101 3 billion or $ 15 6 billion more than what was reported in the July economic and budget update The government highlights the impact of eligibility changes and increased demand due to tighter restrictions in Victoria

Jobkeeper is scheduled to run until March 28, 2021, but has been reduced from the bi-monthly rate of $ 1,500 at the end of September Now, full-time employees of qualifying companies receive $ 1,200 per fortnight and people working less than 20 hours per fortnight receive $ 750 As of January 4, the payment will be reduced again to $ 1,000 for time employees. full and $ 650 for part-time employees

Budget allocates $ 306 million in additional funding to Australia’s tax office to help it achieve the next phase of jobs management as well as the new job creator hiring credit

The government reduced the coronavirus supplement that supplements the job seeker (and a range of other payments) from $ 550 to $ 250 per fortnight in late September

As it stands, the supplement is set to expire on December 31, but Morrison has already told reporters he is inclined to extend the supplement until 2021 The government has delayed decision making on this until closer to the date, which means job seekers will be left in limbo.If the government ends up expanding it further, it will blow up the budget result further.

Australian Council of Social Services chief executive Cassandra Goldie said while the budget offered ‘a glimmer of hope’ for young people, it was ‘a crushing disappointment for many others’ without paid work

« This leaves more than 2 million people on higher income support in doubt about their future beyond the end of the year, when rates reach their pre-Covid level , which for job seekers is 40 dollars a day, « she said

JobMaker, Job Creator

World News – AU – Budget’s Job Creator Hiring Credit to Pay Companies $ 200 Per Week to Hire Young People Australians



SOURCE: https://www.w24news.com/news/world-news-ua-budgets-job-creator-hiring-credit-will-pay-companies-200-per-week-to-employ-young-australians/?remotepost=389560

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