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More than 100,000 businesses have applied for JobKeeper wage subsidy

More than 110,000 business have already applied for the new JobKeeper wage subsidy which will kick-in from May.

Businesses will be able to access the $130 billion fund if they retain workers during the COVID-19 crisis.

The new wage subsidy gives businesses $1500 per fortnight, per employee, to keep paying their workers.

However, workers will be taxed on the $1500.

Finance Minister Mathias Cormann tells Alan Jones everyone will get the same amount.

“We need to keep this simple in order to administer it efficiently and effectively.

“If we want to get this sort of magnitude of payments out in a very short time frame then, sadly, there is no alternative to doing it this way.

“If we had to make differentiated assessments on an individual basis it would become very, very, complicated.”

Click PLAY below to hear the full interview