Josh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Hansard source

The honourable member may be interested to know that, between the federal and the state governments, there will be about $1 billion a week going into New South Wales, which is equivalent to the amount of money that JobKeeper and the cash flow boost were providing New South Wales at the peak of the pandemic last year.

The initiatives that we announced for New South Wales in terms of economic support are very significant. There's the income support for workers, households and families, where you see payments of $450 a week for those who have lost between eight and 20 hours of work a week. You see payments of $750 to those who have lost 20 hours or more. For people who are already on income support or welfare, they receive a payment of $200 if they've lost eight or more hours of work.

On top of that, we're providing very significant support to businesses across New South Wales, with a program designed with the New South Wales government being delivered by Service NSW. Those payments are between $1,500 and $100,000 a week for businesses that have a turnover between $75,000 and $250 million. Those businesses have to show a turnover decline of 30 per cent or more. If you're a sole trader you get $1,000 a week as a flat payment. But the combination of that income and that business support is very substantial to people in the honourable member's electorate and, indeed, across New South Wales. And we recognise the challenges that are being posed by this pandemic. But that is why from day one we have been there with programs like JobKeeper; the cash flow boost; our multiple payments of $750 to people who are veterans, carers and others on income support; as well as the coronavirus supplement, which effectively doubled the safety net. On top of that, in successive budgets, we have provided other tax relief as well as other investment incentives.

Mr Albanese interjecting—

The Leader of the Opposition interjects about $750. I remind the Leader of the Opposition that $750 a week is where JobKeeper was when we first introduced it. We introduced it at $750 and then it tapered down for the second half of that program. So I would say to the honourable member that we understand how difficult it is for businesses across New South Wales, and that is why we continue to put enormous economic support, in partnership with the New South Wales government, into work supporting the people of New South Wales. By sticking together, we will get through this.

See this speech in context