The NSW Nationals in the state government are working hard to save and create as many jobs as possible with the 2020-21 NSW Budget.
The NSW Nationals in the state government will turbocharge stimulus measures to combat unemployment and help the state shake-off the economic shackles of COVID-19, Member for Bathurst Paul Toole said.
“We project that 270,000 people will be back in work by 2024,” he said.
“Measures announced in the Budget this week included a payroll tax threshold increase from $1 million to $1.2 million, which will deliver a tax cut for thousands of businesses and further support for jobs in NSW.
“Our targeted stimulus measures are aimed at returning the economy to a positive footing after the challenges of COVID-19. The strong budget position has allowed us to weather the most severe economic storm in a generation, and we will continue to lead the way in job creation and supporting business through the 2020-21 Budget.”
New initiatives, such as the $250 million Jobs Plus program to help create or support jobs and encourage business to relocate to NSW, and an additional $300 million injected into the Regional Growth Fund announced last week, will help drive the state’s economy back into high gear.
Local business to drive jobs and recovery
Small businesses will have greater opportunities to provide their goods and services to the NSW Government with the 2020-21 Budget delivering $5 million to establish a tendering support service, which will create local jobs and support the economic recovery of NSW.
The NSW Small Business Commission will deliver a four-year program to support small and local businesses to submit tenders and negotiate government contracts.
“The government spends more than $40 billion each year on the procurement of goods, services and construction, with nearly half of that amount going to small and medium businesses, but, many small businesses are not aware of the opportunities that exist or are unfamiliar with the tendering processes,” Mr Toole said.
“Now, they will benefit from additional guidance and support.
“Small businesses make up 97.5 per cent of businesses in NSW and by generating more work for local and small businesses through existing government spending, we will support jobs, families and local communities.”
The policy’s Small Business Exemption allows government departments to buy directly from small businesses for any purchases up to $50,000 even if there is a mandated whole-of-government contract in place.
For some small and medium enterprises it’s hard to know where to start, this measure will provide practical support and assistance.
For more information about the NSW Government’s 2020/21 Budget, please go to budget.nsw.gov.au.