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‘Keeping businesses in business’ with 13% of GDP in economic support

Australians on lower incomes are set to receive further assistance from today as the Morrison Government delivers the second economic support payment.

A $750 payment will be made to approximately five million Australians at a cost of $3.8 billion. It will go to social security, veteran and other income support recipients and eligible concession card holders.

ABF media

This payment is the second of two $750 economic support payments provided by the Morrison Government to help lower income Australians manage the financial impact of the Coronavirus.

The first economic support payment was delivered in March and April this year.

The Treasurer said “the Morrison Government is helping to keep businesses in business and Australians in jobs with $259 billion or 13.3 per cent of GDP in total economic support.”

ABF media

“The second $750 economic support payment will inject $3.8 billion into the economy and provide an economic lifeline to millions of Australians at a time when they need it most.”

“The Morrison Government will continue to do all that is necessary to ensure Australia bounces back stronger on the other side.”

Minister for Families and Social Services, Anne Ruston, said the second economic support payment will be delivered progressively throughout July.

“Approximately five million lower-income Australians will receive the second $750 Economic Support Payment this month,” Minister Ruston said.

“This payment is providing additional support to eligible pensioners, families, veterans and concession card holders, who do not get the fortnightly Coronavirus Supplement as part of their current payment.”

Minister for Government Services, Stuart Robert, said “if you are living in Australia and getting an eligible payment or concession card on 10 July 2020, you will get this payment automatically.”

“There is no need to do anything to get the second Economic Support Payment. If eligible, people will see the $750 payment arrive in their bank account between 15 July 2020 and the end of July 2020.”

Combined, the first and second Economic Support Payments are expected to deliver over $9.4 billion in additional assistance to Australian households.

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