Coronavirus: Australia unveils $114b scheme to guarantee wages for six million workers

Australian Prime Minister Scott Morrison on Monday (March 30) announced a A$130 billion (S$114 billion) scheme to provide replacement wages to up to six million people who may lose their jobs otherwise due to the Covid-19 outbreak. Describing the package as an 'economic lifeline,' Mr Morrison said the aim was to ensure that struggling businesses retained staff while the economy went into hibernation. The six-month scheme will be offered to almost half the workforce and will provide people with A$1,500 per fortnight, or about 70 per cent of the average wage