BUSINESSES forced to shut during the state’s fourth lockdown will be given a lifeline, although there is no support for out-of-pocket workers.<\/p>\n
On Sunday the Victorian Government announced a $250 million support package to help businesses survive the seven-day shutdown.<\/p>\n
The package includes\u00a0$190 million in $2500 grants for businesses,\u00a0$40.7 million in $3500 grants for liquor licence and food certificate holders and\u00a0$20 million for event operators.<\/p>\n
It expects 90,000 small to medium-sized businesses and sole traders to be eligible for the payments.<\/p>\n
Treasurer Tim Pallas said the package was bigger and broader than that provided during the state’s snap lockdown in February.<\/p>\n
“It’s the single biggest package on a pro-rata basis that this state or any state has provided,” he said.<\/p>\n
Treasury estimates Victoria’s seven-day lockdown will punch a $700 million hole in the economy, but Mr Pallas would not be drawn on possibly extending the package if it drags out past Thursday.<\/p>\n
“It is hurting businesses. It is hurting the workforce,” he said. “We understand that we have an obligation to assist and support them. That is exactly what we are doing.”<\/p>\n
Industry groups welcomed the package after publicly lobbying the State Government for immediate support, although some fear it might not be enough.<\/p>\n
“Compared with the cost to business from the lockdown the relatively small amount of support offered will be quickly swallowed up if the lockdown continues beyond a week,” said Australian Industry Group Victorian head Tim Piper.<\/p>\n
Victorian Chamber of Commerce and Industry chief executive Paul Guerra added the Federal Government needed to urgently follow suit with a\u00a0JobKeeper-like wage subsidy.<\/p>\n
“When Australians needed support in 2020, both State and Federal governments were there. Now is not the time for the feds to abandon Victorians,” he said.<\/p>\n