No Pasaran: record credit card rates despite abundance of cheap credit for banks
Credit card rates are now up to 80 times higher than the Reserve Bank of Australia's cash rate. Despite the coronavirus chaos and the banks swimming in an abundance of cheap credit, their credit card remain at all-time highs. Callum Foote reports. Despite historicallyCormann says government will not pay workers' wages
Finance Minister Mathias Cormann has ruled out a UK-style wage subsidy but says the Morrison government will announce alternative stimulus measures within the next few days.
Business and unions have urged the government to consider UK Prime Minister Boris Johnson's 80 per cent wage subsidy aimed at keeping people employed during what could be a prolonged coronavirus crisis.
Business and unions have urged the government to consider UK Prime Minister Boris Johnson's 80 per cent wage subsidy aimed at keeping people employed during what could be a prolonged coronavirus crisis.
But the Australian government has repeatedly baulked at the idea.
"No, we will not look at a UK-style system because in an Australian context that just wouldn't work," Senator Cormann told Sky News on Friday.
FAKE NEWS
It's Sky High
TONIGHT: WHAT WE'RE DOING SEEMS TO BE WORKING - SLOWLY
On The Bolt Report on Sky at 7pm: four more people dead, but what we're doing seems to be slowly working. Shame on some journalists - and Labor - for spreading panic today by claiming we're failing. And Ray Hadley scapegoats a health official. Plus a psychiatrist on the mental damage and why people are behaving badly. And some laughs.
JOE BIDEN ACCUSED OF ASSAULT. DOES HE STILL BELIEVE ALL WOMEN?
Joe Biden about Brett Kavanaugh's accuser: “For a woman to come forward in the glaring lights of focus, nationally, you’ve got to start off with the presumption that at least the essence of what she’s talking about is real." So must we now believe Biden's accuser?: "He went down my skirt but then up inside it, and he penetrated me with his fingers."
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