Australia will announce further income support for workers on Monday as part of a third stimulus package as the coronavirus savages the economy.
Treasurer Josh Frydenberg also announced tighter restrictions on foreign takeovers, ensuring all proposed overseas investment in Australian businesses will trigger government scrutiny, regardless of the value.
The government is battling to cushion the impact of the outbreak and safeguard jobs and has already passed more than A$80 billion worth of fiscal stimulus. In an interview with Sky News Monday, Frydenberg declined to comment on the scale of the planned wage subsidies, reported to be up to A$1,500 a fortnight per employee for the next six months.
