CBD Business Support
I have written to the Treasurer asking for urgent assistance for small businesses in the central business district whose earnings have been devastated by the pandemic and for whom a recovery is not likely in the near future.
The CBD economy continues to be in crisis. Many office towers are still at occupancy rates of only 25 percent because they are tenanted by multinational companies with global work-from-home policies. Businesses that rely on city office workers such as restaurants, bars, cafes and copy services are still operating at below 50 percent pre pandemic trade and are unlikely to survive when JobKeeper is removed. Many are trapped in long term leases signed before the pandemic and are at risk of losing large security deposits or landlords pursuing their homes, which are often used as guarantees. I have called for either a recovery package or protections if they break their lease.