By Alesha Capone
Wyndham residents are set to lose more than $11 million in JobKeeper payments every fortnight, as the federal government program winds back this week.
Two Wyndham postcodes will be among the hardest hit in the state, according to a report authored by the McKell Institute’s director of policy, Edward Cavanough.
Using Treasury figures, the report has calculated how much money workers in each postcode in the nation will lose from September 28 onwards when the $1500 fortnightly payment for eligible employees fell to $1200 for people working more than 20 hours per week, and to $750 for employees working less than 20 hours per week.
Payments will again be reduced in January, with the $1200 rate set to become $1000 per fortnight.
The report stated that the 3000 postcode (Melbourne) would be the worst-hit in Victoria, losing more than $12.67 million in fortnightly JobKeeper payments.
The 3029 postcode (Hoppers Crossing, Tarneit and Truganina) would be the second worst-off, with a loss of more than $6.93 million in payments every two weeks.
The 3030 postcode (Werribee, Werribee South and Point Cook) placed fourth on the list, and will lose more than $6.22 million per fortnight.
Elsewhere in Wyndham, the 3024 postcode (Wyndham Vale, Manor Lakes and Mount Cottrell) is set to lose more than $970,200 in fortnightly payments, and the 3027 area (Williams Landing) more than $576,000.
The 3211 region (Little River) will miss out on $71,340 per fortnight.
Mr Cavanough’s report stated that the reduction in JobKeeper payments would likely lead to business closures and an increase in unemployment in all states.
The document states that an estimated maximum of 1.49 million part-time workers across Australia would have their JobKeeper pay reduced from $1500 per fortnight to $750 per fortnight, post September 28.
About 2.43 million full-time workers will see their JobKeeper pay reduced to $1200.
The report stated the reduction in JobKeeper payments “during Australia’s most significant economic contraction in the post-war years is a major economic risk, and will likely exacerbate the economic fallout from COVID-19 more than would otherwise occur if JobKeeper’s original rate was maintained”.
