The Government’s economic response to the COVID-19 pandemic continued into March quarter 2021. This response included the continuation of JobKeeper and Boosting cash flow for employers subsidies. JobKeeper and Boosting cash flow for employers are the two largest subsidies recorded in the history of national accounts. For further information on the classification of these policies, see Economic measurement during COVID-19: Selected issues in the Economic Accounts (cat. no. 5261.0).
JobKeeper payments accounted for $6.4 billion in March quarter, down from $12.0 billion in December quarter. Boosting cash flow for employers contributed $692 million, down from $6.7 billion in December quarter. Other COVID-19 related subsidies, including those made by state governments, added an additional $1.7 billion in the March quarter.