JobKeeper revamp in the works as virus puts Australia in recession

The Morrison government is preparing a revamp to its $70 billion JobKeeper program that could cut the $1500-a-fortnight payment for some workers despite Treasurer Josh Frydenberg conceding the nation is in its first recession in three decades.

The March quarter national accounts revealed the economy shrank by 0.3 per cent through the first three months of the year, dragged down by the biggest fall in household consumption since 1986 and softer government capital expenditure and home construction.