Retailers Lose Out on $100 Govt Voucher Purported To Boost Economy
Despite a tough retail year, consumer electronics companies have been snubbed on the state budget’s new $100 voucher issued out to adults in NSW in a bid to stimulate the economy.
The NSW government will gift every adult $100 to spend on dining and entertainment to help revive some of the sectors hit hardest by the COVID-19 pandemic.
The money will be issued in four $25 vouchers, with two able to be used on food at restaurants, cafes or clubs while the other two can be spent on entertainment activities such as the theatre, cinemas or amusement parks.
The vouchers cannot be used on retail, alcohol, gambling or cigarettes and can only be redeemed at COVID-safe businesses who sign up to the scheme.
This means retailers hit hard by store closures will not get a cent of the government initiative, despite the fact retail sales have hit record lows over the past year and brick and mortar stores across the country are forced to close.
The NSW Government will run a trial of the program in the Sydney CBD over December, before a state-wide rollout in early 2021.
Named the Out and About voucher scheme, it will cost the Government $500 million and is intended to keep the economy flowing after Christmas.