Federal government is supporting Australians with the biggest economic lifeline in our history

Biggest ever economic lifeline

Around the world, COVID-19 continues to show how destructive it is.

Tragically in some countries, including the UK, Italy, Spain, Sweden and Belgium, there have been more than 100 times our number of deaths per capita.

Australia's extensive testing and contact tracing remain vital tools for tackling outbreaks. More than 3.7 million COVID-19 tests have been conducted.

Our government has boosted Australia's health capacity, including: 5500 new ventilators, and a further 3,500 due for delivery by the end of July; more than 340 million masks, six million gowns, 41 million gloves and eight million goggles and face shields added to our National Medical Stockpile - with more on order; expanding Medicare-subsidised telehealth services, with around 20.3 million services to 8.6 million patients; over 550 COVID-19 clinics, including 142 GP-led respiratory clinics.

We are supporting Australians with the biggest economic lifeline in our history.

JobKeeper is supporting 3.5 million workers in 960,000 businesses. This week, we announced its extension for a further six months, with modifications.

Other economic support includes: over $16 billion in payments to more than 750,000 businesses to boost cash flow; a 50 per cent wage subsidy, supporting around 180,000 apprentices and trainees; up to 340,700 JobTrainer places for school leavers and job seekers to upskill; the HomeBuilder program, supporting the residential construction industry; JobSeeker and the Coronavirus Supplement; $750 payments in April and July to millions of Australians, including pensioners.

Treasury estimates as a result of this support, unemployment will peak around 5 percentage points lower than it would have, preventing the loss of around 700,000 jobs.

When COVID-19 hit, our economy was strong.

Last year, Australia had a balanced budget for the first time in 11 years. Over six years, more than 1.5 million jobs had been created.

Our task now is to reset, to help grow our economy for the years ahead with a 5-year plan that will shape the next 30 years, as we continue to have Australians' backs.