"Most significant support since the war": Round 2 of government relief
The Federal Parliament has rushed through $84 billion in financial support for workers, students and businesses affected by the coronavirus outbreak, before wrapping up for a five-month-long break.
Very few MPs and Senators came to Canberra for a single day to vote on legislation for the Government’s two rounds of stimulus measures.
The bills were passed late Monday night without objection in both the House of Representatives and the Senate after some amendments were made.
“The measures that have been passed by the Parliament today represent the most significant support for the Australian economy and community since the war,” said Treasurer Josh Frydenberg.
“There is much to do for this country in the weeks and months ahead, but working together, we can support the Australian community at their moment of need.”
Labor frontbencher Tony Burke said the Parliament’s co-operation “has been a good example today of the Parliament at its best, working at a time when the nation is facing some of its worst”.
The Government says that 236,000 students will benefit, as the legislation supports both the first coronavirus economic stimulus package, worth $17.6 billion, and the $66 billion in direct financial support announced in the second package on the weekend.
The Coalition now has the power to make changes to stimulus payments, including raters, means testing, eligibility and residency requirements.
And they will use it to give the $550 coronavirus supplement to students receiving Youth Allowance, Austudy and Abstudy payments.
The first direct payments will be made on April 27, with Labor wanting it reach people’s wallets sooner.
“There is a lack of urgency in this support,” said Labor’s Home Affairs spokeswoman Kristina Keneally.
“We are concerned that payments to households, including pensioners, will arrive too late. And we are deeply concerned that cashflow assistance to businesses will arrive too late.”
“For sole traders and the self-employed, this support is just not enough.”
Parliament is now not due to sit again until August 11, with the May budget postponed and other parliamentary sitting days cancelled.