Prime Minister Scott Morrison has signalled extra funding for Sydney
Sydney businesses and workers impacted by lockdown will receive extra financial support from the Federal government, Prime Minister Scott Morrison has confirmed today.
Speaking at a press conference, the PM said the government has been working on a program of additional funding to support businesses and their employees over the next four weeks. It comes after NSW Premier Gladys Berejiklian confirmed the lockdown would be extended until at least August 28, following an additional 177 cases reported today.
It's the highest daily tally yet from the latest outbreak, and with over 50 cases infectious in the community, shows no sign of slowing down. The majority of the cases are now spreading through essential workers and household contacts in the south-west and Western Sydney regions.
Morrison announced that under the COVID-19 Business Support Payment, businesses will now receive payments of between $1,500 and $100,000 per week based on the level of their payroll with the maximum turnover threshold increased from $50 million to $250 million.
The payment will continue to be calculated based on 40 per cent of payroll for businesses that have suffered a 30 per cent or more decline in turnover. For non-employing businesses, such as sole traders, the payment will remain set at $1,000 per week.
The payment for individual disaster relief payments will also be raised from $600 to $750 for full-time staff who are unable to work and from $375 to $450 for those working less than 20 hours a week. More than 812,000 claims have been granted in NSW so far, amounting to more than $411 million in weekly payments.
After calls for the government to bring back JobKeeper, Morrison defended his decision, saying the new scheme offers more speed and flexibility for business owners.
“These businesses are the ones we all need still standing to drive the recovery on the other side," he said.
Treasurer Josh Frydenberg said the Government’s financial assistance is continuing to evolve in response to the outbreak.
“The expansion of the NSW COVID-19 Business Payment remains consistent with the approach we have taken throughout the pandemic in delivering temporary, targeted and proportionate economic support,” he said.
“Up to an additional 1,900 businesses employing around 300,000 people could benefit from the expanded eligibility while increasing the cap will also make the payment more generous for some businesses currently accessing support.”
