Treasurer Josh Frydenberg and Prime Minister Scott Morrison (Image: AAP/Lukas Coch)

After an inexplicable wait that has allowed worries about a "fiscal cliff" to undermine business and consumer confidence, the government has belatedly unveiled its plans for JobKeeper and JobSeeker as the Victorian outbreak continues and the employment market struggles to regain even a fraction of the massive losses of March and April.

The government will, as expected, continue JobKeeper until March -- subject to an updated revenue test and tapered payments -- in a move that is crucial to keeping what is passing for the economic recovery going.

Fewer businesses will qualify for assistance given that those outside Victoria are emerging from lockdown, but it will still be invaluable in keeping hundreds of thousands of people in jobs and keeping businesses that will be viable in a post-lockdown world going.