The New South Wales government has announced a $1 billion support package for businesses affected by the latest Covid wave.
The package will provide payroll support to businesses with turnover of between $75,000 and $50 million offering a payments of between $500 to $5,000 a week.
The $700 million package will provide a payment of 20 per cent of weekly payroll costs to companies that saw a decline in turnover of at least 40 per cent across January.
The package is smaller than the previous one announced during the Delta wave which was split with the Federal Government.
NSW Premier Dominic Perrottet said the package would “help support businesses that experienced the worst effects of the Omicron wave”.
“NSW is tracking better than expected and confidence is returning” he said.
“And as we did with earlier recoveries, we will come through this recent challenge stronger than ever.”