ACT businesses are set to receive extended financial support thanks to a jointly funded deal between the Territory and the Commonwealth Government.
A joint federal-ACT government package of grants aims to aid thousands of affected businesses through to mid-October when the ACT is set to reach 80 per cent vaccination rates.
The grant package will be split on a 50-50 basis between the Commonwealth Government and the ACT.
Under the new deal, a grant of $10,000 for all employing small businesses and $3750 for non-employing businesses will be given to those who were eligible for the COVID-19 Business Support Grant. A top-up payment will also be given to large businesses.
This includes ACT businesses that are in industries still significantly impacted by lockdown restrictions.
Meanwhile, $10,000 will be given to employing businesses with a turnover greater than $2 million and less than $5 million. This will be increased for those with a turnover above $5 million.
ACT Chief Minister Andrew Barr said the business support grant program is an important lifeline in getting people back to work.
Treasurer Josh Frydenberg said the support package for the states would taper once 70 per cent full vaccination was achieved. This is to ensure that support was focused on industries that remained closed or severely restricted.
“At this point, it will be a matter for each state to decide whether any additional targeted business support is needed in their jurisdictions as a result of any health restrictions they elect to impose,” he said.
The ACT’s vaccination rate is currently at 63.2 per cent, with 89.5 per cent having already gotten their first dose.
The Territory Government has also recorded 22 new local infections on Wednesday, with the source found for 12 of them.
At least seven were infectious in the community and another seven were in quarantine the whole time.
There are 237 active cases in the ACT, 10 of them in hospital including three in intensive care requiring ventilation.
With AAP