It may come with a heady price tag, but the government's massive JobKeeper expenditure will help spare its blushes when the June quarter GDP numbers are released in September by the Australian Bureau of Statistics (ABS).
On Monday the ABS said JobKeeper payments would be included in the national accounts, which will mean GDP figures for the June and September quarters (at least) will be better than expected.
The ABS said JobKeeper payments would "be classified as an ‘other subsidies on production’ paid from government to eligible employers”. That was one choice for the ABS. The other was to classify JobKeeper not as a production subsidy but as a "social benefit", which would have meant it was not included in the national accounts.