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Struggling NSW businesses will be able to get increased grants of up to $100,000 a week as Sydney's lockdown is extended for another month.
The JobSaver payments to companies which suffer a 30 per cent revenue reduction due to restrictions were previously worth up to $10,000.
Some 460,000 companies employing 3.3million workers are expected to get the increased grants.
Struggling NSW businesses will be able to get grants of up to $100,000 a week as Sydney's lockdown is extended for another month
Businesses must not sack their staff or they will be disqualified from getting the cash.
The NSW jobless rate was just 5.1 per cent in June but there are fears the lockdown will see the unemployment ranks swell.
Commonwealth Bank predicts about 300,000 jobs will be lost and NSW's unemployment rate will peak at 5.6 per cent in October before reducing to 5.2 per cent at the end of the year.
NSW Premier Gladys Berejiklian said the additional support would help keep business afloat.
'We know these restrictions are tough but necessary to get the current situation under control and that is why we are coming to the table to help businesses and individuals with more financial support,' Ms Berejiklian said.
NSW's request to reinstate JobKeeper, the wage subsidy scheme which paid struggling companies $1,500 per worker per fortnight in 2020, was denied by the Commonwealth.
Federal Treasurer
