With payments under the Federal Government’s Jobkeeper scheme set to begin from May 1, Member for Robertson, Lucy Wicks, says up to 16,000 Central Coast businesses, already eligible for tax relief assistance, stand to benefit.
“The historic $1,500 fortnightly JobKeeper Payment will keep millions of Australians in jobs, as we work to soften the impact of the coronavirus on the Australian economy,” Wicks said.
“The $130B package to support businesses and their employees is one of the most important pieces of legislation passed in Federal Parliament since World War II, with the economic shock exceeding that experienced during the Global Financial Crisis over a decade ago.
“The JobKeeper payment will assist most businesses who employ Central Coast residents to retain their employees during this pandemic and continue to do so once we move into the recovery phase.”
Wicks said the Federal Government expects the unemployment rate to rise to 10 per cent in the June quarter from 5.1 per cent in the most recent data, in light of the economic crisis brought on by the coronavirus pandemic.
“Without the JobKeeper Payment, Treasury estimates that the unemployment rate would be 5 percentage points higher than what we now anticipate, peaking at around 15 per cent,” she said.
“Businesses across a range of industries here on the Central Coast have had to close their doors and others have seen a significant drop in activity as we exercise social distancing measures to contain the spread of the virus.
“The Federal Government’s economic support measures are temporary, targeted and proportionate to the challenge we are currently facing, and they will ensure that Australia bounces back stronger on the other side.”
The historic wage subsidy will see around six million workers nationwide receive a flat payment of $1,500 per fortnight through their employer, before tax.
It will be paid to employers, for up to six months, for each eligible employee that was on their books on March 1, 2020, and is retained or continues to be engaged by that employer.
Media statement, Apr 7, 2020 and media release, Apr 15
Member for Robertson, Lucy Wicks