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Invest

Another billion-dollar boost on way for NSW

  • March 30 2020
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Invest

Another billion-dollar boost on way for NSW

By Grace Ormsby
March 30 2020

Keeping people in jobs, helping businesses and supporting vulnerable people are all aims of a new economic package for NSW.

billion-dollar boost on way for NSW

Another billion-dollar boost on way for NSW

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  • March 30 2020
  • Share

Keeping people in jobs, helping businesses and supporting vulnerable people are all aims of a new economic package for NSW.

billion-dollar boost on way for NSW

A statement from the state government has outlined the creation of a $1 billion fund to sustain business, create new jobs and retrain employees, while further money will be spent on funding to prevent homelessness and boosting the Energy Accounts Payments Assistance scheme. 

According to Deputy Premier John Barilaro: “If we are to emerge in the best shape possible, we need to ensure businesses keep their heads above water and keep employees on the books.” 

“We will do whatever it takes to help businesses stay afloat so that they can hold onto as many jobs as possible as we get through this crisis,” he continued.

“We will also be there to support those most vulnerable to ensure no one is left behind.”

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The newest measures were “designed for maximum impact and immediate effect” – being timely, targeted and temporary, according to NSW treasurer Dominic Perrottet. 

“Our expectation is that any relief provided by the NSW government will be used to contribute to help businesses stay in business and people stay in jobs. It’s vital we keep people employed and ensure we have the ability to rebound when things improve,” he continued. 

It comes after the state’s initial announcement of a $2.3 billion funding package.

Another billion-dollar boost on way for NSW
billion-dollar boost on way for NSW
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About the author

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Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

About the author

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

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