Business NSW has applauded the Federal Government for a $130 billion package which will see a $1,500 fortnightly payment made to businesses to pass on to their employees.
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"It is an historic rescue package reflecting the extraordinary times which we are all living through," Business NSW Regional Manager - Western NSW, Vicki Seccombe, said.
"No boss wants to make their staff redundant or cut hours, but sadly that's been the case across many industries in our region as the coronavirus response measures took hold.
"This move from the Federal Government will give a level of certainty to business owners and their staff and hopefully keep the economy moving, despite the obstacles.
"While the $1,500 payment will be gratefully received, it is important to note that this is a minimum payment and an employer may still top that up to match a current salary arrangement."
To be eligible for the assistance, a business needs to demonstrate a drop in revenue of at least 30 per cent as a result of the impacts of coronavirus.
That's a benchmark that many regional businesses have already exceeded, Ms Seccombe said, with people now allowed only to go out for the "essentials" and travel stopped.
Deputy Prime Minister and Riverina MP Michael McCormack said workers would receive a flat payment of $1,500 per fortnight through their employer, before tax.
The payment will provide the equivalent of about 70 per cent of the national median wage.
For workers in the accommodation, hospitality and retail sectors it will equate to a full median replacement wage.
"This payment provides job security for many who have been concerned and anxious about how they will put food on the table for their families," Mr McCormack said.
"We are facing tough times and I am afraid the going will get tougher in the coming days, weeks and months.
"It will take all of our mettle and, in particular, our patience and discipline to help slow the spread of this insidious virus so we can come out on the other side as best we possibly can."
