Queensland businesses on NSW border to receive multimillion-dollar funding injection

The federal and Queensland governments announced this week that they will deliver a $52.8 million emergency support package in addition to the $30.2 billion which has been distributed to businesses and households since the start of the COVID-19 pandemic.

“The impact on Queensland businesses along the border with NSW has been devastating,” Premier Annastacia Palaszczuk said.

“This package will provide a lifeline for a number of businesses doing it tough right now.

“We’ll deliver $14.55 million in Border Business Zone Support to businesses along the border region in the areas of Coolangatta, Currumbin-Tugun, and Currumbin Waters and the towns of Wallangarra, Goondiwindi and Mungindi.

“With the Delta variant continuing to rage in Sydney, we’re investing in our economic recovery in Queensland to support local businesses to make it through the pandemic.”

The new grants will be available from mid-October.

“Our existing $600 million 2021 COVID-19 Business Supports Grants package with the federal government has already put $60 million into the accounts of Queensland businesses and sole traders affected by recent lockdowns,” Treasurer Josh Frydenberg added.

“Now, we’re extending eligibility to include businesses along the border who’ve seen a reduction in turnover because of the New South Wales border closure.

“Today’s package will help businesses to stay afloat while border access is limited.”

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.