War by proxy: Frydenbergâs reforms raise shareholder alarms Weâre sorry, this service is currently unavailable. Please try again later. Dismiss Credit:Alex Ellinghausen Normal text size Very large text size When Treasurer Josh Frydenberg delivers his federal budget speech next Tuesday evening, he will almost certainly herald the success of the governmentâs JobKeeper program, which bolstered the economy throughout the pandemic. The program, like others implemented in the United Kingdom and New Zealand, was an economic lifeline designed to keep businesses afloat and nearly 3.5 million people employed. It also had a fundamental flaw. The government couldnât force companies that recovered faster than expected and even their grew profits, to pay the subsidy back.