Victorian premier Daniel Andrews has announced a massive $3 billion suite of tax cuts and cash grants, in what he called “the biggest package of business support in the history of this state”.
As the premier confirmed Victoria had logged 41 new COVID cases and seven deaths, his government has extended billions more in support to business, including a $251 million licensed venues program offering grants of up to $30,000 for hospitality businesses hit hardest by COVID shutdowns and distancing rules.
“Around 75,000 eligible businesses with payrolls up to $10 million will receive grants of $10,000, $15,000 or $20,000 depending on their size,” the state government announced.
#COVID19VicData for 13 September, 2020.
Yesterday there were 41 new cases reported and 7 lives lost. Our thoughts go out to all those affected.
More information will be available later today. pic.twitter.com/xylZ2wnfcp— VicGovDHHS (@VicGovDHHS) September 12, 2020
On the day the state was originally meant to be exiting its stage four lockdowns, strict restrictions and stay-home orders remain in force thanks to last weekend’s extension. Instead of lifting lockdowns, Sunday sees a string of minor restrictions slightly eased or changed, including the opening of playgrounds and libraries, and new rules about home gatherings.
The lockdown extension was met with fierce criticism and outrage from the business sector, which has spent the week calling for the state government’s roadmap to ‘COVID-normal’ to be accelerated. Premier Andrews has steadfastly rebuffed those calls, but conceded the conservative plan would require more support for business, with huge swathes of the economy either totally shut down or massively restricted.
On Sunday, the premier announced the state government would forego the equivalent of one-quarter of its annual tax revenue, in a huge package of tax cuts and offsets for business, to aid in the recovery from COVID and associated lockdowns.
“We know that businesses are hurting,” state treasurer Tim Pallas said.
The treasurer detailed a laundry list of relief options, including $1 billion in cash grants, waiving liquor license fees, stamp duty discounts for businesses in regional Victoria, waiving some land tax payments, and waiving some payroll tax.
“I don’t think you will find a greater demonstration of commitment from any government across this nation,” Mr Pallas said.
He claimed the government was “using every lever available” to give industry more help.
The government said Sunday’s announcement effectively doubles the state’s support for business, to a total of $6 billion.
More to come.
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