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Federal budget: Australians warned the delayed announcement will be unprecedented

The federal budget will be a ‘titanic effort’ to pull Australia out of its COVID-19 economic crisis, Prime Minister Scott Morrison says, as his government is accused of stripping millions from the economy through cuts to unemployment payments.

The 2020/21 budget, to be delivered on October 6, will be the ‘most unprecedented investment in Australia’s future’, according to the prime minister.

‘It will be a titanic effort that we’re involved in to ensure that this country can get back on the growth path that we want to be on,’ he said in Adelaide on Saturday.

The federal budget will be a 'titanic effort' to pull Australia out of its COVID-19 economic crisis, Prime Minister Scott Morrison said at the Liberal Party AGM in Adelaide on Saturday (pictured)

The federal budget will be a ‘titanic effort’ to pull Australia out of its COVID-19 economic crisis, Prime Minister Scott Morrison said at the Liberal Party AGM in Adelaide on Saturday (pictured)

‘That means we’re going to have to do some very heavy lifting in this budget and that comes at a significant cost.’

Those out of work were hit with a cut to their dole on Friday as the JobSeeker supplement was reduced from $550 a fortnight to $250.

From Monday, the JobKeeper rate will also decrease and be split into two tiers for full-time and part-time workers.

The full rate will go from $1500 to $1200 a fortnight, while people who worked less than 20 hours a week pre-pandemic will receive just $750.

Shadow treasurer Jim Chalmers said the cuts would strip $680 million a fortnight out of the economy just when it is needed.

Mr Morrison is pictured during a tour of the Osborne Naval Shipyard in Adelaide on September 26

Mr Morrison is pictured during a tour of the Osborne Naval Shipyard in Adelaide on September 26

The Australian leader is pictured speaking with apprentice welders during at the Osborne Naval Shipyard on September 26 in Adelaide

The Australian leader is pictured speaking with apprentice welders during at the Osborne Naval Shipyard on September 26 in Adelaide

‘It makes absolutely no sense for the government to be cutting support to workers, communities, businesses and local economies when the economy is still as weak as it is today,’ he said.

Treasurer Josh Frydenberg again hinted on Friday the government was looking at some form of extra support for the unemployed, above that which applied before the pandemic struck. 

However, the decision would not be made until later in the year.

National economic recovery relies heavily on Victoria continuing to squash the virus.

The state recorded 12 new cases on Saturday as well as one death, pushing the national toll to 870.

The enormous deficit set to be announced by Josh Frydenberg comes despite him promising last year that by 2020 Australia would be 'back in black'

The enormous deficit set to be announced by Josh Frydenberg comes despite him promising last year that by 2020 Australia would be ‘back in black’

Those out of work were hit with a cut to their dole on Friday as the JobSeeker supplement was reduced from $550 a fortnight to $250 (pictured: Job seekers queue up outside a Centrelink office in Melbourne on April 20)

Those out of work were hit with a cut to their dole on Friday as the JobSeeker supplement was reduced from $550 a fortnight to $250 (pictured: Job seekers queue up outside a Centrelink office in Melbourne on April 20)

Victorian Premier Daniel Andrews has teased that restrictions may be eased earlier than planned next month with infection rates tracking ahead of schedule but there’s not expected to be wholesale changes on Sunday when some freedoms will be restored.

Victoria’s Health Minister Jenny Mikakos has quit her portfolio, a day after Premier Daniel Andrews partially blamed her for hotel quarantine failures at an inquiry into the bungled scheme.

The state’s second wave has been traced to two Melbourne hotels, with the outbreaks linked to more than 750 deaths and triggering economically destructive lockdowns.

NSW also recorded one new case on Saturday, while Queensland recorded three new cases from international arrivals.

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