Treasurer Josh Frydenberg has spruiked the billions in tax cuts already rolled out as the Federal Government prepares to end the JobKeeper wage subsidy this month.

“If you are a teacher or an nurse watching the show this morning and you earn $60,000 a year, you pay $2160 less tax compared to what you did back in 2017-18,” Mr Frydenberg said.

Treasurer Josh Frydenberg says Australians are spending the billions in tax cuts and helping to create jobs. (Nine)

“This is a result of the tax cuts the Coalition has legislated. They focus on lower and middle income earners.”

Mr Frydenberg also said those people receiving the $9 billion in tax cuts would spend it and boost the economy.

“They’ll spend that money, helping to create jobs across the economy.”

Treasury figures showed that 94 per cent of the 1.3 million people who either lost their jobs or saw their working hours reduced to zero at the start of the pandemic are back at work, Mr Frydenberg said.

But some industry sectors – including the tourism industry – fear jobs will be at risk when the JobKeeper wage subsidy ends later this month.

A city view of the Gold Coast skyline.
Many tourism operators – especially in Queensland – are concerned they will have to shed jobs when JobKeeper ends this month. (Supplied)

Mr Frydenberg insisted that to leave it in place would damage employment prospects.

“JobKeeper was always meant to be be a temporary payment. It was always an emergency measure … If we leave it in place it will be counter productive, it will prevent the official allocation of workers to different roles across the economy.”

Mr Frydenberg will outline the Federal Government’s economic recovery plan for households and businesses after the pandemic in a speech to the Business Council of Australia later today.

This content first appear on 9news

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