JobKeeper payments putting more than $1.2m back into Tenterfield's economy

The Commonwealth's JobKeeper program is injecting more than $1.2 million back into Tenterfield's economy fortnightly, according to new statistics from the Treasury.
The Commonwealth's JobKeeper program is injecting more than $1.2 million back into Tenterfield's economy fortnightly, according to new statistics from the Treasury.

The JobKeeper wage subsidy is paying more than $1.2 million in wages every fortnight in the Tenterfield Shire, new statistics reveal.

A total of 318 businesses in the Tenterfield Shire applied for the Commonwealth government's JobKeeper program, with an estimated 825 local workers receiving the $1500 wage subsidy every fortnight.

It's estimated that these payments are putting $1,237,500 back into the local economy, according to the statistics, which are from the Commonwealth Treasury.

NSW Labor Senator Tim Ayres has used the figures to criticise the federal government's plan to cut the wage subside in September.

"This data shows that cutting JobKeeper payments too early could have devastating consequences for workers, businesses and communities in New England," he said.

"The Morrison government is still planning to withdraw this payment at the end of September, putting thousands of local jobs at risk.

"The people of New England desperately need an effective, well executed response to this crisis, to bolster the recovery and set Australia up for the future."

ABS statistics in June revealed the region was facing the third-worst downturn in the state, showing the New England North West had shed 11,700 jobs as a result of the pandemic.

Business NSW regional manager Joe Townsend said the survey confirms the government needs to think very carefully about how it winds back the scheme.

"Business NSW has been saying for some time that September was going to be the month where the true impacts of the epidemic hit home, with JobKeeper set to end and a number of deferral measures the banks initiated at the start of the pandemic also due to expire," he said said.

Mr Townsend said Business NSW was supportive of more "targeted and tapered" support after September, especially for those dependent on international tourists.