Schemes bring work
CORONAVIRUS GRANT SCHEMES HELP KEEP TRADIES WORKING
THE economic impact of three Territory coronavirus fightback grant schemes has surpassed $100 million, according to the government.
The Jobs Rescue and Recovery Plan — which is split into the Home Improvement Scheme, the Business Improvement Grant, and the Immediate Work Grant — is worth $125 million in total. It was introduced in light of the coronavirus crisis in the hopes of adding a huge injection of cash into the Territory economy by supporting tradies.
THE economic impact of three Territory coronavirus fightback grant schemes has surpassed $100 million, according to the government.
The Jobs Rescue and Recovery Plan – which is split into the Home Improvement Scheme, the Business Improvement Grant, and the Immediate Work Grant – is worth $125 million in total.
It was introduced in light of the coronavirus crisis in the hopes of adding a huge injection of cash into the Territory economy by supporting tradies. A third of the way through the approvals process, NT government analysis shows the economic impact of the funding released so far is more than $100 million.
So far, more than 7300 Home Improvement Scheme vouchers, out of nearly 20,000 applications, have been sent out, and 320 vouchers out of 1400 applications have been issued for the $20 million Business Improvement Grants, while 82 of 105 applicants for the $5 million Immediate Work Grants have received vouchers.
NT government analysis by the Department of Trade, Business and Innovation found that the economic impact of the Home Improvement Scheme, Business Work Grant and Immediate Work Grants so far was $97 million, $10 million and $10 million respectively.
Scott Hammet, of NT construction company SH Build, said his business had been able to take on another 15 tradies in the last three weeks partly due to work coming in from the Home Improvement Scheme.
This includes a new apprentice among its ranks.
Mr Hammet said he felt as though the economy was “slowly starting to turn around” in a good way. “Everyone says it has been quiet but over the last month or so it’s starting to pick up,” he said.
Chief Minister Michael Gunner, who previously said he would throw “kitchen sinks” at the coronavirus, said the package was about saving jobs.
“We know we can’t stop the virus and we can’t stop the economic hit – but we can make sure we’re still standing at the end,” he said.
The NT government is due to release its fiscal statement, along with economic forecasts, on July 29. The NT’s debt is expected to be north of $7 billion.
Unemployment in the NT stands at 7.9 per cent.