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Treasurer to use ‘every weapon’ available to support Australians financially

Neil Mitchell
Article image for Treasurer to use ‘every weapon’ available to support Australians financially

Federal Treasurer Josh Frydenberg says the government will use “every weapon in its arsenal” to keep the Australian economy alive during the coronavirus crisis.

It comes after the government unveiled a $66 billion package, which includes a raft of measures to help Australians who’ll be affected by the economic downturn.

“We’re in extraordinary times, that’s why we’ve introduced extraordinary measures,” he told Neil Mitchell.

Mr Frydenberg says roughly $27 billion would come out of Australia’s superannuation fund over the coming years, with sole traders or casual workers who’ve had their income reduced by 20 per cent or more due to the coronavirus eligible to access up to $10,000 of their superannuation tax-free.

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Neil Mitchell
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