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The Federal and Queensland Governments have struck a deal to lift the latest business support package to $600 million for the Sunshine State in a bid to soften the blow from recent lockdowns.
The dollar-for-dollar agreement will see Queensland's contribution to the scheme rise from $260 million to $300 million - a figure that will be matched by the Commonwealth.
Businesses that report a 30 per cent decline in revenue will be able to apply for the package, including a $1,000 grant for non-employing sole traders across the state, a $5,000 grant for small businesses with payrolls below $1.3 million, and a $10,000 grant for those with payrolls of $1.3-10 million.
Large-sized tourism and hospitality operators with payrolls above $10 million can also apply for a $25,000 grant.
Earlier this week the Queensland Government announced other measures to help businesses, including $22 million to relieve liquor licence fees for the tourism and hospitality industry and a $20 million COVID cleaning rebate for businesses that become exposure sites.
Queensland Treasurer and Minister for Investment Cameron Dick said the agreement would boost support, not just for businesses that have been affected by recent lockdowns, but by those that continue to suffer because of lockdowns in other jurisdictions.
"We know that across Queensland, the lack of international and interstate visitors is affecting businesses every day, especially those in tourism and hospitality," the Queensland Treasurer said.
"From Monday 16 August, our $5000 COVID-19 Business Support Grants program will be open to businesses across Queensland, but this agreement with the Federal Government is in addition to that and means that we will be able to extend our support even further.
"It comes on top of the nearly $70 million in additional support and benefits for Queensland tourism and hospitality businesses that I announced earlier this week."
The Queensland Treasurer thanked his Federal counterpart Josh Frydenberg for his rapid response to the evolving impact that COVID-19 is having on businesses in the state.
"The Morrison Government recognises the impact that lockdowns across the country are having on businesses in Queensland," Treasurer Frydenberg said.
"This package will help to keep businesses in business and Queenslanders in jobs and builds on the almost $30 billion in economic support the Morrison Government has provided Queensland households and businesses during the pandemic.
"As we have done so throughout this crisis, we will continue to work with the Palaszczuk Government to ensure the Queensland economy continues to recover from the impact of COVID-19."
Updated at 3:44pm AEST on 13 August 2021.
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