Government measures to help cushion economic impact of COVID-19.
The Australian Federation of Travel Agents has released its initial assessment of the latest stage of the stimulus package announced by the Federal Government earlier today, with CEO Jayson Westbury saying it provides support for households, assistance for businesses to keep people in a job, and regulatory protection and financial support to keep businesses operating.
The $66 billion in funding includes up to $100,000 for eligible entities employing staff, government guarantees for new business loans up to $250,000, improved access to credit for small business, support for trainees and temporary early release of superannuation.
Westbury said AFTA was currently working through the measures in more detail, but at this stage it’s believed many members will be able to access funding and receive the benefits.
“AFTA knows these are dark days and that you are all facing immense and complex issues,” he said.
“AFTA will continue to work with government to identify the acute and specific challenges that we face as people look to cancel or take a credit forward for bookings and how you as the person in the middle can deal with this.
“We know this is a big problem and we are taking this up directly with the government…I hope that we will be able to find a solution that works for everyone,” Westbury concluded.
More in tomorrow’s issue of Travel Daily.