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Showing posts from August 17, 2020

Love And Light To The Hospitality and Tourism Industries

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Apparently August is restaurant month. You just cannot read about it.  Just as the poor bastards have some hope it is ripped from their cold hands. Here is the talk from Robbo. How the schemes will work • The new wage subsidy is forecast to cost about $510 million and cover 470,000 jobs. • The criteria for the new wage subsidy are similar to the current extension: In particular, a business must have had, or is predicting to have, a revenue drop due to Covid-19 of at least 40 per cent. For this new scheme, the revenue drop applies for any consecutive period of at least 14 days within 12 August and 14 September compared to last year. • The Treasury also estimates that a number of businesses that weren't able to access the extended wage subsidy before it expires on 1 September will now become eligible to do so. This is expected to cover about 460,000 workers, at $1.1 billion. • The costs are expected to be covered by the previous underspend on the extended wag