DON’T CUT AND RUN

Extend scheme or we’ll suffer $75m a week blow to Coast economy

ABOUT $75 million a week will be wiped from Gold Coast families if Scott Morrison pulls the plug on his JobKeeper scheme.

Treasury figures show 27,545 GC businesses signed up for the scheme in April, with Benowa and Surfers Paradise hardest hit suburbs. Leaders say removing it too early would be a massive blow.

ABOUT $75m a week will be wiped from struggling Gold Coast families if Scott Morrison pulls the plug on his JobKeeper scheme.

Federal Treasury figures show 27,545 Gold Coast businesses signed up to the scheme in April alone. Based on the average staff member for each company, the Labor Opposition said about 104,000 workers on the Glitter Strip were living off a $150m-a-fortnight drip – and ripping it out would flatten the city.

Mayor Tom Tate called for Mr Morrison to extend the scheme to help the nation’s tourism capital.

The federal government has made no commitments to extend the program, but indicated a final decision would be made by the Treasurer next week.

Each of the Coast’s federal MPs were asked on Wednesday if they wanted the scheme to continue. They declined to comment, stating they don’t reply to “budget speculation”.

Instead, the offices of Angie Bell, Bert van Manen and Stuart Robert pointed to transcripts of the Treasurer’s interview with Seven’s David Koch in which he indicated a statement would be made this month.

JobKeeper was introduced to help businesses flattened by the coronavirus pandemic cover staff wages at $1500 per eligible employee a fortnight.

It will end in September without legislative changes.

Treasury figures and Labor estimates show the postcode containing suburbs such as Benowa and Surfers Paradise is the most dependant in the state. The Opposition says the scheme is supporting 11,206 people in the 4217 postcode at a cost of $16.8m a fortnight.

Families in Labrador, Southport, Beechmont and Burleigh Heads are also heavily reliant on the lifeline, taking in about $13m every fortnight.

The Gold Coast was the worst-hit local government in Queensland for the week ending May 30, with job rates dropping 8.8 per cent since the 100th coronavirus death.

Gold Coast-based Labor Senator Murray Watt said the future of more than 30,000 Gold Coast businesses and 120,000 workers was in the federal government’s hands.

“If Scott Morrison and his local LNP MPs cancel JobKeeper too early, it will be a hammer blow to Gold Coast

jobs,” he said. “It would rip millions a fortnight out of the Gold Coast economy. That is money that the city can’t afford to lose right now.

“We are starting to see signs of economic recovery, but we are not out of the woods yet.”

Mayor Tate said he was also concerned about the figures and urged Mr Morrison to reconsider ending JobKeeper.

“Removing it all in one fell swoop could be too much for some businesses to absorb,” he said.