No withdrawal of support: Minister | Liverpool City Champion

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The federal government will not give up economic support when vaccine targets are reached, Finance Minister Simon Birmingham said.

Prime Minister Scott Morrison and state and territory leaders have agreed to begin removing some COVID-19 restrictions when they reach a full vaccination rate of 70%, and end lockdowns at a rate of 80%.

Treasurer Josh Frydenberg said last week states could not expect Commonwealth emergency economic support to continue on the current scale as the immunization program ramps up.

Senator Birmingham said the government will always seek to provide certainty.

“Australians need to know that we are not about to walk away from them,” he told the ABC.

“But we also want states and territories to live up to their end of the bargain… that there is a dividend in being vaccinated.”

Some economists have put the cost of current lockdowns across NSW, ACT and Victoria at $ 25 billion.

One in five businesses in NSW in a recent survey said they only had cash to survive a month.

The federal government on Wednesday announced a program offering loans of up to $ 5 million to small and medium-sized businesses with sales of less than $ 250 million.

ABC’s Mike Vacy-Lyle said the program had a lot of credit.

“The impacts of the pandemic are widespread and diverse in businesses and industrial sectors,” he said.

“Many need access to credit to help them get through this time, and the expansion of (the program) is a great initiative to ensure that more businesses will be able to access business loans at low rates and flexible terms. “

Associated Australian Press


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