Over 100,000 Melbourne businesses receive financial aid
The Australian and Victorian governments are providing financial aid for over 100,000 businesses across Melbourne as lockdown restrictions continue to remain in place.
The need to combat the Delta variant has led to an extension of the state’s lockdown for seven more days, severely impacting the trade of businesses across a range of sectors. Due to this extension, a $367 million joint Commonwealth-Victorian package will provide grants to affected businesses.
The new package contains three main elements: the Small Business COVID Hardship Fund, the Business Costs Assistance Program and the Licensed Hospitality Venue Fund 2021.
There is also an agreement between the two Governments to extend the Commonwealth COVID-19 Disaster Payment arrangement for workers and eligible businesses affected by the metropolitan Melbourne lockdown extension.
Treasurer Josh Frydenberg said the Australian Government has delivered more than $45 billion in direct economic support to households and businesses in Victoria.
“This is a very difficult and challenging time for all Victorians,” Treasurer Frydenberg said.
“Along with the state government, we will continue to support Victorians through the crisis to ensure households and businesses can bounce back from this latest set of restrictions.”
The Victorian Government has provided more than $7 billion in direct economic support for businesses over the course of the pandemic. This includes the $1.4 billion in cash grants paid to more than 97,000 businesses since the May/June restrictions period.
Victorian Treasurer Tim Pallas said that the Victorian Government will continue to directly support Melbourne and other Victorian businesses that are affected by lockdown restrictions.
“As we continue to fight the Delta strain, we are not forgetting the toll that this has taken on our business community,” Treasurer Pallas said.
“We’ve backed businesses with direct, targeted and consistent support where it has been needed most and we’ll continue to do so.”
Victorian Minister for Industry Support and Recovery Martin Pakula said that the funding will provide vital support and reassurance.
“Thousands of businesses will benefit from this new injection of support and we know that the funds are essential to back businesses through this difficult period. We’re acting decisively to get on top of the Delta outbreak and also to give businesses the best chance to emerge in decent shape on the other side,” Minister Pakula said.
Both governments have allocated a total of $1.16 billion over the past two weeks to back struggling Victorian businesses, helping them pay their bills and the wages in order to be in the best shape possible for recovery.
SOURCE: PREMIER OF VICTORIA MEDIA RELEASE