Victorian government announces $282.5m cash boost for struggling businesses

Source: The Australian

The Andrews government has announced a further $282.5m cash boost for businesses struggling during Victoria’s fifth lockdown. Picture: NCA NewsWire / David Crosling

Industry Support and Recovery Minister Martin Pakula said the cash injection would provide “some comfort” over the next few days and ensure businesses get another $2800 under the Business Cost Assistance Program.

“For businesses who received earlier rounds of the grants, the top-up payments would be automatic”, he said.

“Those businesses that either didn’t choose to apply during the May-June lockdown or had been ineligible or has since become eligible … their applications will be considered outside of that automatic top-up process,” Mr Pakula told reporters on Wednesday afternoon.

Alpine businesses will receive an additional $3000 on top of the other grants, while eligible public events and public events suppliers affected by the lockdown will receive support of up to $25,000 and $10,000 respectively through an extension of the Impacted Public Events Support Program.

Another round of Live Performance Support was announced, with up to $7000 for presenters and $2000 for suppliers.

Community sport and recreation organisations will also receive $2000 grants for events that have been cancelled or postponed.

Victorian businesses have been hit hard, plunged into a fifth lockdown since the pandemic begun. Picture: NCA NewsWire/ David Crosling

Victorians have been living under a fifth lockdown since last Friday.

The Victorian government has provided almost $7bn in economic support for businesses during the pandemic, including more than $500m through the May-June lockdown.

About $180m was paid over the past two days to more than 86,000 Victorian eligible businesses for the first five days of the current lockdown.

Victoria recorded 22 cases on Wednesday – 16 of those infections were quarantining during their infectious period.

More information about businesses support is available at business.vic.gov.au.

Cash Support for Victorian Businesses During Lockdown https://www.premier.vic.gov.au/cash-support-victorian-businesses-during-lockdown

Workers affected by the public health restrictions are now eligible for the same payments afforded by the Commonwealth to New South Wales and South Australian workers:

• Payments of $600 will be made to Victorians that lose 20 hours or more of work during the period of the lockdown
• Payments of $375 will be made to individuals that lose between 8-20 hours of work during the period of the lockdown
• There is no liquid assets test applied to receive these payments

If you would like any additional information on the grants above for SA, Vic or NSW please don’t hesitate to contact us.