The Australian's Adam Creighton says the new JobKeeper scheme has a number of inherent difficulties due to an artificial distinction in turnover thresholds between large businesses and small businesses.
“The idea that a large firm with a turnover of more than one billion dollars will keep on all of its staff if it has endured a 40 percent fall in revenue, is fairly fanciful".
“The other problem with the package is the fact that it is a flat rate and so you are going to have a million people who will be enjoying 100 to 200 percent pay rises from the package," he said.
According to Sky News contributor Peter Switzer, economic forecasts which predict a dramatic fall in the property market would only be realised in “a worst-case scenario”.
New data from SQM Research suggest the residential property market could plummet by as much as 30 percent.
"If the suppression period we are in now stretches out to six months and we have got more concerns about death rates, then the entire housing market could get spooked,” he told Sky News host Peta Credlin.
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