World News – AU – Scott Morrison to distribute $ 1.2BILLION to pay apprentices and interns


Posted: 4:23 PM EDT October 3, 2020 | Updated: 4:23 p.m. EDT October 3, 2020

Prime Minister Scott Morrison has unveiled a program to pay half the wages of interns in any industry for one year to employ 100,000 new workers

The Prime Minister on Tuesday announced new funding for apprenticeships ahead of the 2020 budget, which has been dubbed a ‘jobs budget’ to pull the country out of its first recession since the 1990s

Thousands of apprentices lost their jobs in coronavirus pandemic closures The new program will create jobs for 100,000 new and rehired apprentices in any industry (photo in stock)

Employment has fallen dramatically due to coronavirus lockdowns Prime Minister Scott Morrison has announced a plan to hire 100,000 apprentices to ‘put young people to work again’

This is possibly the biggest investment in a trainee start-up program to date, as the federal government tries to lift Australia out of mass unemployment, which was triggered by the end of the pandemic coronavirus

Thousands of apprentices and trainees lost their jobs, especially in the hospitality sector, when pandemic restrictions hit

Under this program, any company, regardless of size or industry, can get a 50 percent wage subsidy for any new or restarted apprentice or trainee.

The subsidy applies to apprentices hired from Monday until the government ceiling of 100,000 is reached

The grant is worth up to $ 7,000 per quarter and will last until September 30, 2021

Prime Minister Scott Morrison said on Saturday that 760,000 jobs had already returned to the economy, but he wanted to continue to recoup what had been lost and put young people to work

« Whether in manufacturing, housing and construction, the arts or mining – this new wage subsidy gives companies the certainty of hiring and provides a career path for young trades budding « , he said

Prime Minister Scott Morrison prepares his pre-budget speech on September 30 The 2020 budget has been called a ‘jobs budget’ to pull Australia out of the coronavirus recession

Manufacturing will also benefit from Tuesday’s budget with $ 1 billion in grants in six priority areas, including medical products and resource technology, to reduce Australia’s dependence on drug chains ‘fragile global supplies

Australian Hotels Association (AHA) chief executive Stephen Ferguson said the restaurant industry has 11,290 apprentices but needs thousands of new chefs over the next few years

«  This will be a huge advantage for us whether it is a newbie apprentice or a mature worker looking to re-qualify, especially as the industry anticipates a need for 16,800 chefs over the five coming years,  » he told the Daily Telegraph

The official number of unemployed in Australia crossed the million mark for the first time in August due to the pandemic

Australia 6The official unemployment rate of 8% is deceptively low, because the Australian Bureau of Statistics labor figures classify a person as employed if they work at least one hour per week

National Australia Bank chief economist Alan Oster said last month that around 18% of the workforce is either unemployed or wanting more hours

The federal government was due to present the 2020 budget on May 12, but it was postponed due to the coronavirus pandemic

Treasurer Josh Frydenerg will hand over the budget on Tuesday instead, and it has been billed as the «  biggest budget since WWII  » due to the coronavirus shock

The government is expected to inject $ 140 billion in stimulus into the economy over four years

Australia’s budget deficit is expected to reach $ 200 billion with over $ 800 billion in public debt

Housing construction (stock image) has benefited from mass migration which has boosted demand for new construction, which ended with the pandemic A new boost was announced on Saturday: an extension of the first system of home loan deposit so people can buy with a 5% deposit

Economist Steve Keen said earlier this year that public debt is relatively low by international standards, but is overshadowed by the huge level of private debt, which is more than six times higher and fueled by massive mortgages – and weigh on recovery

The high cost of housing is partly explained by record levels of migration over the past two decades

Budget 2020 comes as the coronavirus pandemic ended mass migration, giving Australia its first year of negative net migration since 1946, with more people leaving than born or arrived

« It is in Australia’s interest to maintain a strong immigration program in a range of areas – skilled migration, family, reunion and humanitarian, » he told the Sydney Morning Herald

Although migration creates demand for housing construction and education, boosting some jobs, it increases competition for other jobs that are now scarce, lowers wages and puts additional pressure on infrastructure and expensive utilities

Before the coronavirus pandemic, net migration abroad was expected to reach 271,300 this calendar year and 267,600 next year

The construction sector that benefits the most from migration will receive a new boost in Tuesday’s budget in the form of first-time home buying incentives creating demand for newly built homes

Treasurer Josh Frydenberg says he wants a return to mass migration that will boost demand for education and housing construction, but increase competition for other jobs (stock image)

On Saturday, the federal government announced it would expand its first home loan deposit system by 10,000 seats

The program allows first-time buyers to buy a home with just a 5% down payment instead of the 20% deposit needed to avoid spending thousands of dollars on mortgage insurance from lenders

Instead, the government vouches for the remaining 15% of the deposit for eligible borrowers

Other industries to benefit from Tuesday’s budget include manufacturing, which is expected to bring in $ 1.5 billion

Part of the increase is a $ 1 billion grant program in six priority areas, including medical products and resource technology

This is an attempt to increase national self-sufficiency after the coronavirus supply chain shock exposed Australia’s vulnerable dependence on global suppliers

The federal government was due to present the 2020 budget on May 12, but it was postponed due to the coronavirus pandemic

Treasurer Josh Frydenberg to hand over «  the biggest budget since WWII  » on Tuesday Here’s what you need to know:

* Scott Morrison and Josh Frydenberg say it will be a « jobs budget » to pull the recovery out of the first recession since the 1990s

* 25 million retirees to get extra help to offset inflation-linked hike that’s not going forward

* No change in JobSeeker unemployment payments Government wants more data on economic conditions before deciding

* $ 100 million for new regional recovery partnerships (projects in areas affected by drought, bushfires and coronavirus)

* $ 50 million regional tourism stimulus initiative (helps businesses in regions heavily dependent on international tourism)

* $ 7 6 million for parents with stillborn babies or the death of a child under 12 months

* 700 new safe places for women and children fleeing domestic violence as part of the $ 60 million “safe places” initiative

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Apprenticeship, Intern, Salary, Australian Federal Budget, Grant, Employment

World News – UA – Scott Morrison to donate $ 1 BILLION to pay apprentices and interns



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