The McKell Institute has released a report titled Crossing the Fiscal Cliff National, State and Local Impacts of the JobKeeper Extension and Reduction.
This report collates findings from the McKell Institute’s analysis of the changes to the JobKeeper package that will commence after September 28, 2020. Drawing on post-code level data, it derives national, state and post-code level findings on the size of the reduction in JobKeeper payments throughout Australia after September 28.
The report forecasts that a reduction in JobKeeper payments will take $1.52 billion out of the Australian economy each fortnight, leading to an economic downturn and “an increase in business closures”.
By removing Jobkeeper dollars from local economies, employees will reduce their spending in local cafes, restaurants and other small local businesses.
From September 28th the JobKeeper payments for full-time employees will be reduced from $1500 per fortnight to $1200 per fortnight.
Part-time JobKeeper payments will be reduced from $1500 to $750 per fortnight.
The postcodes used by the McKell Institute relate to the business address, rather than a JobKeeper recipient’s home.
Jobseeker Reduction Impact on Lane Cove
The report forecasts that $2,663,282.10 will be removed from the Lane Cove economy and $3,785,896.95 from postcode 2065 (that includes Greenwich). Data here.
Now more than ever, it is important to shop local. Lane Cove locals mainly own our local independent businesses, and they employ locals. If we don’t support them now, we will have a ghost town, and a vibrant Lane Cove is a good Lane Cove.
Continue to support our local restaurants by dining locally. Check out the restaurants along Longueville Road here.
The Lane Cove Council needs to follow Sydney City Council’s decision to promote alfresco dining. Sydney City Council and Melbourne City Council have plans to help businesses thrive amid social distancing measures.
Outdoor dining fees will be waived until March, and the application process for outdoor dining permits will be streamlined. All Lane Cove cafes and restaurants should be permitted to have some form of outdoor dining.
Clover Moore said: “Encouraging outdoor dining makes it easier for us to enjoy those things and support local businesses while maintaining a safe physical distance.”
The council was working with businesses in the CBD to identify parking spots, traffic lanes and footpaths for outdoor dining in time for the 12-month pilot to begin in November.
Lane Cove Council should do the same. If you agree with this idea, please send an email to Lane Cove Council at [email protected] and ask for them to be proactive on alfresco dining for ALL Lane Cove businesses.
Buying Local Fosters Uniqueness
You can walk into any big shopping centre in Australia and see the same stores, but in Lane Cove, if you buy local, you can foster and preserve one of a kind businesses with a distinctive character. Lane Cove people place a high value on uniqueness and individuality. We have seen big chains come into Lane Cove and fail (how many suburbs can lay claim to the fact that McDonalds shut down in their suburb). It does not mean that we don’t like franchised stores. We have some fabulous franchised stores in Lane Cove, for example, Chargrill Charlies, and The Source Bulk Foods Lane Cove – they are part of a big group, but they are all owned by the people who work in the business and love being in Lane Cove.
Support Your Local Community
Locally owned businesses support local groups. If you go to any local school fundraiser, you will see that small local business donate the majority of the prizes. ITC speaks to local businesses every day, and they have told me that they are always happy to donate prizes when a customer asks, but if a stranger who has never shopped with them, walks in off the street and asks for a donation, they are less likely to donate. They want to help the people who buy from them.
Local Decision Making
A local store can quickly source different and varied products; they do not have a buyer who sits in an office and does not interact with the customer.
Local Owners Expertise and Knowledge
Local businesses have a greater interest in finding out about their customers. The owners are your neighbours, and their kids go to the local school.
Competition and Diversity
A local community with many small businesses is an ideal way to ensure innovation and competition. People vote with their wallets. That is not to say that Lane Cove does not have a large number of cafes and hairdressers. However, most of them are unique and are not part of a chain.
So next time you could buy something locally or at a big shopping mall, choose to shop local and help out your neighbours and your community. These people might be the people who give your kid a job on the weekend.
Lane Cove Shopping is More than Lane Cove Plaza
There is no doubt that Lane Cove Village is the epicentre of shopping in Lane Cove. However, there are several satellite shopping areas spread throughout Lane Cove, and each of those areas contains some hidden gems. Find out more about our local satellite shopping centers here.
Lane Cove Business Directory
Check out Lane Cove local businesses in In The Cove Lane Cove Business Directory here.
Local Free News – that is ITC’s promise.
In the Cove is run by locals. It is the only online hyperlocal media company based in Lane Cove. We provide local free news – we do not have a paywall and will never have a paywall.
Lane Cove Chat by ITC – Chat with other Lane Cove locals about local issues, lost pets, local info and more on our closed Lane Cove Facebook group. We closely monitor membership, to make sure (as much as possible) that members either live or work in Lane Cove.
Instagram – Follow our adventures around Lane Cove as we snap our lovely leafy Lane Cove.