A new jointly funded package from the Commonwealth and Victorian Governments will give Victorian small and medium businesses the extra support and confidence they need to recover from the most recent lockdown.
New cash payments will underpin businesses most affected by the lockdown introduced to eradicate the deadly Delta strain of coronavirus that has re-emerged in Victoria.
Recognising the heavy toll on businesses across the state, a $400 million package jointly funded by the Commonwealth and Victorian Governments will provide automatic payments to almost 100,000 eligible businesses, including sole traders, to ensure funds are distributed quickly.
Further hardship funds will be made available to eligible businesses that do not qualify for existing programs.
The new package follows the $400 million Commonwealth-State injection announced last week and builds on more than $950 million in support grants paid by the Victorian Government into the bank accounts of Victorian businesses since June.
Federal Treasurer Josh Frydenberg said the Morrison Government has and continues to support Victorians during the pandemic.
“Since the start of the pandemic the Federal Government has delivered more than $45 billion to Victorian families and businesses to support them in their hour of need,” the Treasurer said.
On top of the $415 million in COVID-19 Disaster Payments and business support we have provided in recent weeks, we are now delivering a further $200 million in business support for Victorian Business.”
“This will help cushion the blow of the recent lockdown and provide hope for the future.”
For more information head to premier.vic.gov.au