Australia’s startup sector has reacted favourably to the Morrison government’s $130 billion economic stimulus package, announced on Monday.
The government will pay a $750 a week wage subsidy to businesses who retain workers over the next six months. The program also applies to sole traders.
“We will pay employers to keep paying their employees, and make sure they do,” Prime Minister Morrison said.
The scheme will be administered by the ATO through the Single Touch Payroll system, with the money flowing to businesses from May. To be eligible, a company will have lost at least 30% of its revenue and the people retained must have been on the books as of March 1.
More details are available here.
In the meantime, here’s what startup founders and small business leaders think about the government’s plan.