The Business Council of Australia and “Big Four” bank Westpac has welcomed the Australian federal government’s expanded financial support package for workers and businesses during prolonged lockdowns in New South Wales (NSW). Over 400,000 businesses are said to potentially benefit after the government lifted the eligibility threshold for support payments for businesses with $50 million revenue to $250 million. Payments range from $1,500 to $100,000 per week based on the company’s turnover and whether there has been a 30 percent decline during the lockdown period. The federal government will fund three-quarters of the package, with the NSW government funding the rest. “Today’s financial package for the nation’s biggest state economy in NSW picks up the principles we have been arguing for—that financial assistance is targeted, adequate, expanded and timely for both individuals and businesses,” Business Council of Australia CEO Jennifer Westacott said. “Lifting the business turnover threshold to $250 million …
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