The Federal Government will completely axe the JobKeeper program in March and speculation is mounting it will be replaced by a wage subsidy scheme for small and medium businesses. Treasurer Josh Frydenberg is preparing to axe the JobKeeper scheme in March shifting the focus of the government support into creating new jobs. But it is also expected to confirm that the JobKeeper wage subsidy will not be extended when it ends on March 28. Sky News is reporting this afternoon that the JobKeeper scheme will be axed next year and will not be extended a second time. Labor’s treasury spokesman Jim Chalmers said the decision to slash the value of the wage subsidy next week was a mistake.