$395M stimulus to protect council jobs and infrastructure in NSW

The NSW Government has announced a $395 million economic stimulus package to safeguard council jobs, local services and infrastructure in the wake of the COVID-19 pandemic.

Treasurer Dominic Perrottet said the COVID-19 crisis has hit councils hard financially and the NSW Government is determined to limit this impact.

“Our state’s 128 local councils are a critical part of the NSW economy, especially in many regional and rural towns where they are sometimes the largest employer,” he said.

“This about keeping people in jobs which will allow councils to continue to provide essential services in their communities throughout the ongoing COVID-19 crisis and bounce back faster once we come out the other side.”

The stimulus package includes a $250 million increase in low-cost loans to eligible councils through the state’s borrowing facility provided by TCorp to kick-start community infrastructure projects.

“This increase brings this low-cost loan facility up to $1.35 billion for the benefit of councils and their communities,” Mr. Perrottet said.

“TCorp will also be offering principal and interest payments deferrals on existing council loans upon request for the next six months.”

Other measures will include up to $112.5 million to support a Council Job Retention Allowance of $1500 per fortnight per employee, and $32.8 million to assist councils meet the cost of the FY2020/21 increase in the Emergency Services Levy.

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