Government admits $60bn JobKeeper error.
The federal government has been left red-faced after a reporting error resulted in the cost of its wage subsidy program being slashed by $60 billion.
Treasury and the tax office have revised the cost of the pandemic-prompted JobKeeper program down to $70 billion from $130 billion.
A “significant” error was made by about 1,000 businesses when reporting the number of employees estimated to receive help.