The Morrison Government’s Budget is securing Sydney’s economic recovery through protecting jobs today and making it easier for locals to get a job or for local businesses to hire someone tomorrow.
Minister for Employment, Workforce, Skills, Small and Family Business, Stuart Robert, joined Fiona Martin, the Member for Reid, to tour the Toohey’s Beer Factory and meet with business leaders and Clubs from across Sydney’s Inner-West to talk about how the Federal Budget will drive jobs and skills.
The Federal Budget guarantees around 77,900 taxpayers in Reid will keep more of what they earn benefiting from tax relief of up to $2,745 this year. The Morrison Government’s Tax Plan has already benefited 93,200 residents across the electorate – getting more of taxpayers’ own money out of government hands in Canberra and back into the local community.
The Morrison Government is expanding its $1 billion JobTrainer Fund, to continue the delivery of low fee or free training places in areas of skills need. JobTrainer will help ensure Australians can access critical skills and support more than 450,000 new places to upskill job seekers and young people across the country. To date the government has supported over 114,600 people reskill through JobTrainer funded courses with women making up 56 per cent of enrolments.
The Federal Budget is also extending the highly successful Boosting Apprenticeship Commencements wage subsidy for a further six months to support new apprentices and trainees who commence by 31 March 2022. The $2.7 billion investment is supporting the employment of newly commencing apprentices and trainees, assisting school leavers and job seekers during the peak hiring period for key industries. To date over 141,000 apprentices have been supported through this program. With an existing cohort of 1,405 apprentices in Reid the new measures will lead to more opportunities for apprentices and trainees right across the Inner-West.
The Morrison Government is also backing in small businesses in Reid through continuing tax incentives that will allow around 29,800 businesses in the electorate to write off the full value of any eligible asset they purchase.
Additionally, around 13,900 businesses across Reid will be able to use the extended loss carry back measure to support cash flow and confidence. This has helped businesses invest more in the local economy and to create local jobs. The tax-free Cashflow boost has helped around 8,400 small and medium businesses providing $351 million in payments to help businesses in Reid to stay afloat.
Minister Robert said the Federal Budget outlined the Morrison Government’s economic plan to back jobs for Australians across Sydney and secure the city’s economic recovery.
‘We recognise that Sydney’s Inner-West was hit hard by the COVID Recession so the Morrison Government was there with JobKeeper supporting 9,800 local businesses and 33,600
Workers across Reid. We kept those workers connected to their jobs and now we are well on the road to recovery’ he said.
‘At the end of the day we want to ensure every single person in Sydney has the opportunity to get into a job, skill up for the next job or indeed hire someone in their’.
Member for Reid, Dr Fiona Martin said the Inner West was well on its comeback from the Covid-19 Recession.
‘While many businesses are still doing it tough across the Inner West it’s clear our local economy is well on its way to recovery and the Federal Budget backs in local businesses to secure our economic recovery.’
‘Whether it’s our tax investment incentives, our wage subsidies for apprentices or our JobTrainer fund to upskill Australians we are giving the Inner-West the support it needs to secure its recovery.’