Aid For Struggling Aussie Tourism Sector Is ‘Days Away’ : Treasurer
Treasurer Josh Frydenberg has said the federal government will be announcing a new plan to support the tourism and travel industry in the coming days.
Frydenberg, who arrived in Cairns on March. 7 for a listening tour in the region, said the government was in the process of figuring out a plan to keep supporting the hardest-hit industry after the government JobKeeper package ends on March. 28.
“We’re still finalising those details, but it’s a matter of days,” said Frydenberg. “What I’ve heard from some businesses that I’ve met is that some are doing well and others are finding it a bit more challenging … so it’s about targeting that support but also providing opportunities for those who are doing OK to even take on more workers.”
The JobKeeper program ends soon Here s what could replace it abc.net.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from abc.net.au Daily Mail and Mail on Sunday newspapers.
22 Feb 2021
Australia’s Tourism & Transport Forum (TTF) is demanding the federal government urgently consider targeted industry support to the tune of $7.74 billion.
The core of the rescue package, which TTF has dubbed the ‘Tourism Employee and Asset Maintenance (TEAM) program’, is a proposal for targeted assistance of between $1,000 to $1500 per fortnight for each employee of eligible businesses with a 30 per cent to 50 per cent or more downturn in their 2019 turnover.
The TEAM rescue package proposal has been valued at $7.74 billion, covering the period from 1 April 2021 to 31 December 2021, and reviewed quarterly.
If this program is put in place, Australia’s tourism industry could regrow to 75 per cent of its 2019 employment figures and save 318,000 jobs, according to the TTF.
A tax-based cashflow boost for tourism businesses is shaping up as the most likely industry support to replace JobKeeper once the wage subsidy ends, according to sector sources as they warn a serious economic cliff is looming. Industry groups say it appears increasingly liked that there will be no tourism-specific wage subsidy to replace JobKeeper after March, despite it being their preferred option. A cashflow boost through the Australian Tax Office, similar to what was seen at the start of the pandemic lockdowns, has been discussed. Tourism Minister Dan Tehan wants a temporary, targeted support to replace JobKeeper for tourism businesses. Picture: Brendan Radke