(1) In June and July 2021 what economic modelling did the Treasurer receive concerning the Greater Sydney lockdowns?
(a) What did the modelling show in terms of the following:
(i) Economic damage?
(ii) Welfare payment needs?
(iii) Alternative policy approaches?
(b) What are the details?
(2) When was the modelling received by the Treasurer?
(3) Why hasn’t the modelling been published for the benefit of the people of New South Wales?
(4) What analysis and results were received concerning the health impacts of the loss of economic activity from the lockdowns?
(a) What are the details?
(5) What action has the Treasurer taken, in response to modelling, to alleviate the economic, social and health damage of lockdowns?
(1) NSW Treasury provides regular updates on the NSW economy to the NSW Treasurer. These updates include information on the cost of restrictions and the impact of emergencies such as the COVID-19 outbreak on the NSW economy. The estimated direct cost of the domestic public health restrictions on local mobility and gathering at the end of July was around $1.3 billion per week.
(2) NSW Treasury provides economic updates to the Treasurer on an ongoing basis.
(3) Treasury’s modelling has not been provided publicly because it is Cabinet in Confidence.
(4) The ABS Household Impacts of Covid-19 Survey includes information on the health impacts of the loss of economic activity from public health restrictions.
(5) Below is a list of all the new support measures that the NSW Government has put in place to alleviate the economic, social and health damage of the lockdowns:
2021 COVID-19 Business Grant
2021 COVID-19 JobSaver Payment
2021 COVID-19 Micro-Business Grant
NSW contribution to Commonwealth COVID Disaster Payments
(i) Negotiations with the Commonwealth lead to agreement on 27 July to pay $200 per week to existing income-support recipients (although this cohort would remain ineligible for the full CDP).
(ii) Further costing exercises were undertaken to estimate the value of NSW’s contribution to the expanded CDP package announced by the Commonwealth on 28 July. This included: the cost of extending CDP until 28 August, higher payment rates from early August (for non-hotspot residents) and the $200 weekly payment to income-support recipients (in non-hotspot areas).
Payroll Tax Support
Support for Commercial Leases
Support for Residential Leases
(i) Up to $1,500 grant per residential tenancy to residential landowners who do not pay land tax, or;
(ii) Land tax relief up to 100 per cent of their 2021 land tax liability to landowners who reduce rent for COVID-19 affected tenants between 1 July and 31 December 2021.
Mental Health Support in partnership with the Commonwealth
Support for Vulnerable Refugees, Asylum Seekers & Temporary Visa Holders
CALD Outreach and Communications
Food relief package
Expansion of Temporary Accommodation Programs
Gaming Machine Tax Deferrals
Support for Accommodation Providers
Support for the Performing Arts Sector