Sydney, (Asian independent) The government of Australia’s New South Wales (NSW) on Tuesday announced an economic support package worth over A$5 billion, aiming to help businesses and people across the state amid the current Covid-19 lockdown.
The commitment will be up to A$5.1 billion, including the funding from the Commonwealth as part of a business and employee support program, reports Xinhua news agency.
The business grants program announced two weeks ago has been expanded, with grants between A$7,500 and A$15,000 available to eligible businesses.
Thousands of employees will also be protected with NSW committing a new business and employee support program to be delivered together with the federal government.
Residential tenants will have greater protection with a targeted eviction moratorium, and residential landlords who decrease rent for impacted tenants can apply for a grant or land tax reductions depending on their circumstances.
NSW Premier Gladys Berejiklian said the package has three key aims – protecting business, saving and keeping jobs through the lockdown, and ensuring people had support during an uncertain and difficult time.
“While our health and medical staff are fighting Covid-19 on the frontline, this comprehensive support package is aimed at saving jobs and protecting businesses until the lockdown is over,” Berejiklian said.
The fund will also be used to support sectors such as micro businesses, performing arts, accommodation and mental health.