At almost 10% of gross domestic product and a much larger percentage of government spending, Australia's fiscal response to the COVID-19 crisis has been one of the biggest in the world. The government is spending an average of A$26 billion a month on programs that didn't exist in February. To put that in perspective, before COVID-19 the government's total average monthly expenditure this financial year was going to be $42 billion. While far from perfect, these emergency measures have been successful at supporting the incomes of many households and businesses. But, as this chart shows, each and everyone will be gone by the end of October, making October a very dangerous time for businesses and for the economy.

Policy Description End date Fiscal measures JobKeeper payment $130 billion wage subsidy program that provides $1500 a fortnight payment to workers September 27 in eligible businesses JobSeeker payment The rebranded Newstart unemployment payment of $1115.70 per fortnight (including September 24 temporary $550 Coronavirus Supplement) Cashflow support for Businesses with turnover below $50 million receive a payment equal to 100 per cent of July 28 business their salary and wages withheld, minimum payment of $10,000 and maximum of $50,000 Stimulus payments Two rounds of $750 stimulus payments to eligible households July 13 Other supports Coronavirus SME loan Government will guarantee up to 50% of loans issued to SMEs (up to $20 billion in total) Until guarantee scheme September 30 State payroll and other All states have offered relief from some taxes and fees for eligible businesses (including Varied - vast tax exemptions for payroll tax) majority of relief Jobkeeper businesses by June 30 Commercial rental Rent waivers and deferrals proportionate to the reduction in turnover for eligible September 30 agreements businesses - waiver must equal at least half rent reduction. Moratorium on commercial tenancy evictions Bank holidays on loan Many banks offering customers the option to defer home loan repayments Up to six months repayments (" September) Temporary corporations More time to pay company debts; company directors temporarily relieved of personal October 15 act amendments liability for insolvent trading