Receive the latest mybusiness news
Copyright © 2020 MOMENTUMMEDIA

Budget plan promises to boost jobs and skills across NSW Central Coast

Karen Tan
20 May 2021 2 minute readShare
Budget plan

The NSW Central Coast’s economic recovery has been earmarked for assistance in the Federal Government’s Budget, after being hit particularly hard by the COVID recession.

The Morrison government now has a plan to help the local economy bounce back, to protect current jobs, to make it easier for jobseekers to get a new job and for businesses to hire new staff.

Just how the federal budget will drive jobs and skills is being unveiled by Minister for Employment, Workforce, Skills, Small and Family Business, Stuart Robert, and Lucy Wicks, the Member for Robertson.

The two MPs have just toured some of the Coast’s local businesses to meet workers, trainees and apprentices to talk about budget measures that will assist, and it includes tax relief.

Member for Robertson Lucy Wicks said around 16,600 small and family businesses across the electorate of Robertson are set to benefit from the Morrison government’s 2021 budget packages. 

“This budget will see local businesses be able to write off the full costs of assets that will help expand their business to keep up with demand,” Ms Wicks said.

Minister Robert said the federal budget assistance is vital to get back local jobs and secure the region’s economic recovery.

“At the end of the day, we want to ensure every Central Coast resident has the opportunity to get into a job, skill up for the next job or indeed hire someone in their business,” Mr Robert said.

Around 5,700 businesses across Robertson will be able to use the extended loss carry-back measure to support cash flow and confidence, to help businesses invest more in the local economy and create local jobs.  

The tax-free cash flow boost has helped around 5,000 small and medium businesses by providing $206 million in payments to help businesses in Robertson to stay afloat.

The federal budget guarantees around 55,400 taxpayers in Robertson will keep more of what they earn, benefiting from tax relief of up to $2,745 this year.

The government’s tax plan has already benefited 62,200 residents across the Central Coast electorate.

Then there is the JobTrainer Fund.

The Morrison government is expanding the $1 billion initiative to continue to deliver free, or low-fee, training places in areas with skills shortages.

JobTrainer will help Australians access critical skills and support more than 450,000 new places to upskill jobseekers and young people across the country, including the Central Coast.

There are a lot of apprentices in Robertson — around 1,740 of them. So, the $2.7 budget investment in supporting the employment of new apprentices and trainees, and assisting school leavers and jobseekers during peak hiring periods for key industries, is welcome news.

The federal budget is also extending the successful Boosting Apprenticeship Commencements wage subsidy for an extra six months. It will support new apprentices who start by 31 March 2022.

“The Morrison government was there with JobKeeper supporting 5,600 local businesses and 22,100 employees in Robertson. We kept workers connected to their jobs and now we are well on the road to recovery,” Mr Robert said.

Budget plan promises to boost jobs and skills across NSW Central Coast
mybusiness logo
Karen Tan

Leave a Comment

Latest poll

How satisfied are you with the SME measures in the federal budget?