News State NSW News Support coming for NSW workers, businesses

Support coming for NSW workers, businesses

Sydney's latest lockdown is expected to cost businesses hundreds of millions in lost revenue.
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Support is on the way for workers and businesses impacted by Sydney’s latest virus lockdown, with both the federal and state government considering options.

A bevy of industry bodies has called for some form of financial assistance, with the damage bill for the lockdown expected to stretch into the hundreds of millions.

It is the city’s first lockdown without the JobKeeper program in place and comes in the final week of end-of-financial-year sales.

Up to $750 million of “carnage” could be inflicted on retailers alone, the National Retail Association said, while the Accommodation Association says the move has sent occupancy rates plummeting across the country.

Sydney Lord Mayor Clover Moore, Business NSW and the Committee for Sydney are also among those calling for support to quickly be made available.

In announcing a two-week city-wide lockdown on Saturday afternoon, Premier Gladys Berejiklian said help was on the way.

“Nobody should feel stressed about their financial situation,” she said.

“We will, as a state government in the next few days, be announcing support for businesses. The federal government’s support for households kicks in at a certain time.

“Nobody should feel stressed or pressured to break any of the rules because of their financial situation.”

Federal government assistance of up to $500 will kick in on July 1 for those who reside or work in Sydney’s CBD, east or inner west and cannot attend work as a result of lockdown restrictions.

People also must not have more than $10,000 in liquid assets or be in receipt of other payments.

Further information will be provided in the next week, Emergency Management Minister David Littleproud said on Saturday.