51,000 Queenslanders back to work by weekend

 

 

MORE than 50,000 Queenslanders - enough to fill Suncorp Stadium - will be put back to work after restrictions ease this weekend and a staggering $610 million will be pumped into the economy within a month.

By the time the state reaches the third stage of more relaxed restrictions, 175,000 Queenslanders will be back at work and the monthly economic benefit will swell to $1.9 billion.

But the Queensland economy will suffer an $800 million hit each week if social distancing measures are ignored and officials are forced to wind back restrictions.

Treasurer Josh Frydenberg will today release detailed data showing how the road map out of the coronavirus shutdown announced last Friday will wake the hibernating economy and deliver hope for hundreds of thousands of workers around the country.

Treasurer Josh Frydenberg was hoping to be delivering a Budget surplus today but instead will be updating the parliament on some of the worst economic data in Australian history (AAP Image/Lukas Coch)
Treasurer Josh Frydenberg was hoping to be delivering a Budget surplus today but instead will be updating the parliament on some of the worst economic data in Australian history (AAP Image/Lukas Coch)

In Queensland, moving to stage one on the road map from next weekend is predicted to boost employment by 51,452 jobs and dump an extra $610 million a month into the sagging economy.

Moving to stage two, scheduled for June 12, should add another 55,994 jobs while the jump to stage three on July 12 will add 66,613 jobs, according to the estimates.

It's also estimated that fully reopening schools, which has only partly happened in Queensland, would boost the national economy by $2.18 billion.

 

 

Mr Frydenberg was originally scheduled to deliver the 2020-21 Budget and a hoped-for surplus today but those plans were blown out of the water by the pandemic.

Instead he will run down a list of unwanted economic records smashed in the last few months as sectors such as construction, manufacturing, services, real estate and new car sales collapsed.

According to prepared notes, Mr Frydenberg will tell parliament the economic data has been "sobering", leaving a massive increase in government debt that will take many years to repay.

"Our measures have been designed in a way that protect the structural integrity of the budget," he will say.

"Temporary and targeted, the new spending measures were not designed to go forever but to build a bridge to the other side."

And he will herald last week's road map as a "significant point on our pathway back to recovery".

 

 

Labor treasury spokesman Jim Chalmers is expected to argue that the government does not have a plan for jobs after the targeted economic support is withdrawn later this year.

"Australia needs an economic plan," he will say according to draft notes.

"A plan for when the economy doesn't snap back on the Prime Minister's political timetable.

"A plan that doesn't withdraw support from the economy too early or too suddenly, in a way that cruels the recovery.

"A plan that doesn't just learn the lessons of 2009 but 2014 as well - that doesn't ask the most vulnerable to pay the heaviest price."

 

Originally published as 51,000 Queenslanders back to work by weekend

 



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