The Victorian Chamber is pleased to see legislation cementing the government's $130 billion JobKeeper wage subsidy passed last night.
We congratulate the Federal Parliament - the Morrison Government, Opposition and cross bench - for their speed, diligence and collaboration in securing this critical support package.
Eligible businesses that have experienced a decline in turnover of at least 30 per cent, or 50 per cent for businesses with a turnover of more than $1 billion, will receive $1,500 per employee, per fortnight.
Employees will need to be full-time or part-time employees, or casuals that have been employed regularly with the same employer for more than a year. The scheme is scheduled to run for six months, with more than 750,000 businesses already signed up.
Registered charities that can demonstrate a decline in turnover of 15 per cent or more can access the JobKeeper payments, compared to the 30 or 50 per cent decline required by companies, partnerships, trusts and sole traders.
The Victorian Chamber of Commerce and Industry advocated for the wage subsidy as the coronavirus crisis unfolded, as our members told us a wage subsidy was needed to help keep people employed.
JobKeeper has brought together industry, Government and unions to forge a collaborative way forward. The Victorian Chamber has worked with all parties to ensure the scheme's design reflects what businesses needed.
To be attributed to Victorian Chamber Chief Executive Paul Guerra:
"We recognise the efforts of the Federal Parliament, with opposing sides of Parliament coming together to get this important legislation through.
"Much needed payments will now start flowing through to Victorian workers, keeping them engaged to their employer and connected to their jobs during this crisis.
"JobKeeper won't save every business and every job at risk during this crisis, but the scale of stimulus measures in place will give businesses a lifeline to help them make it through to the other side.
"What many businesses need to do now is consider the current landscape and, if they can, operate within that. We know that there will be a 'new normal' post Covid-19 and businesses need to look for ways to conduct their business now and plan ahead."
