The Federal Government is expected to step in to assist NSW with a billion dollar package to support Sydney businesses struggling in lockdown.
The NSW Government held crucial talks with federal counterparts, fine-tuning the plan which will see between $20,000 and $100,000 in support funds offered to small and medium businesses affected by the current lockdown, the SMH reports.
Details on the cash boost are expected to be announced today, with wages and rent among costs which will be helped with.
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NSW Deputy Premier John Barilaro said with the current Sydney lockdown potentially lasting anywhere up to seven weeks, NSW and the Federal Treasurer were working together to get $1.4 billion out to support businesses.
"We've got to be honest, if it goes beyond the two or three weeks we've got to support businesses bigger, longer and stronger," Mr Barilaro told Today.
"We can work with the Federal Government, the Treasurer, and the premier will have more to say about that."
It is believed COVID-19 disaster payments will increase to $600 a week for full-time staff and $375 for those working part-time.
With yesterday's report of 112 new local cases in NSW, this is the state's biggest spike in cases in more than a year.
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The support announcement comes after NSW Premier Gladys Berejiklian said yesterday it was unlikely the state would come out of lockdown this Friday.
The COVID-19 disaster payment, instituted in Victoria's most recent lockdown, could increase for affected residents.
The disaster payment is offered to those who lose work due to stay at home orders for more than a week.
People are eligible for a one-off payment of $325 a week for the loss of up to 20 hours of work, and $500 for more.
Throughout the lockdown so far, as it enters its fourth week, $43 million has been claimed by 90,518 people.
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