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Postcodes most likely to see shops, pubs and retailers drop like flies when JobKeeper ends

The postcodes most likely to see businesses collapse when JobKeeper payments are slashed have been revealed.

Jobkeeper wage subsidies were introduced by the Federal Government to tide over workers until businesses reopened after coronavirus lockdowns ended. 

The Morrison government announced in August payments would drop from $1,500 per fortnight to $1,200 for full-time employees beyond September 28.

Part-time JobKeeper payments will be cut from $1,500 to $750.  

Policy researchers from the McKell Institute warned the reduction would cost the national economy $1.52billion every fortnight and would likely lead to mass business closures. 

New South Wales and the ACT will suffer the most, with $581million ripped from the economy. Sydney CBD (pictured) will be the hardest hit losing almost $20million

New South Wales and the ACT will suffer the most, with $581million ripped from the economy. Sydney CBD (pictured) will be the hardest hit losing almost $20million

People out shopping in Sydney CBD wearing face masks on September 5, as the state remains on high alert

People out shopping in Sydney CBD wearing face masks on September 5, as the state remains on high alert

‘Every dollar of JobKeeper removed from local economies is another dollar workers can’t spend in their local restaurants and cafes and other small businesses,’ the institute’s director of policy Edward Cavanough told 7 News

According to the study, New South Wales and the ACT will suffer the most, with $581million ripped from the economies each fortnight. 

Sydney CBD will be the hardest hit losing almost $20million.

Local businesses in the 2170 postcode, which covers Liverpool and Casula stand to lose $7million every two weeks. 

Melbourne (pictured) will take the biggest hit of $12million, before postcode 3029, which covers Tarneit and Hoppers Crossing in the city's west, will lose $7million

Melbourne (pictured) will take the biggest hit of $12million, before postcode 3029, which covers Tarneit and Hoppers Crossing in the city’s west, will lose $7million

A woman wearing a mask as she waits for a tram during COVID-19 lockdowns in Melbourne in September

A woman wearing a mask as she waits for a tram during COVID-19 lockdowns in Melbourne in September

Victoria stands to lose $443 million per fortnight. 

Melbourne will take the biggest hit of $12million, with the postcode 3029, which covers Tarneit and Hoppers Crossing in the city’s west, set to lose $7million. 

Queensland – which thrives on tourism – will see a drop of $307 million.

The economy in the Sunshine State will likely continue to suffer under strict border closures, which are set to continue until there is no community transmission recorded for 28 days.

Queensland - which thrives on tourism - will see a drop of $307 million. Cairns (pictured) stands to lose $6million

Queensland – which thrives on tourism – will see a drop of $307 million. Cairns (pictured) stands to lose $6million

Adelaide CBD will lose about $5million per fortnight, while suburbs of Perth with the postcode 6065 will lose $4million.

Mr Cavanough said: ‘It could be avoided if the Morrison Government maintained JobKeeper at its original rate to ensure small businesses survive the downturn, and more workers keep their jobs.

‘The decision to cross the fiscal cliff is a choice the federal government has made, despite clear evidence that Australia’s economy is still struggling’. 

Adelaide CBD (pictured) in South Australia will lose about $5million

Adelaide CBD (pictured) in South Australia will lose about $5million

POSTCODES AT RISK OF BUSINESS COLLAPSE: HOW MUCH SUBURBS STAND TO LOSE EACH FORTNIGHT WHEN JOBKEEPER IS SLASHED 

 NEW SOUTH WALES

 2000 – Sydney CBD, $19,527,732.15

2170 – Liverpool, Casula, Moorebank, Warwick Farm, $7,517,735.40

2010 – Surry Hills, Darlinghurst, $5,602,262.55

2153 – Baulkham Hills, Bella Vista, $5,472,522.15

2250 – Gosford and Central Coast, $5,207,635.50

2145 – Greystanes, Pemulwuy, $4,794,988.95

2200 – Bankstown, $4,443,608.70

2148 – Blacktown, $4,290,442.95

2155 – Kellyville, $4,126,465.50

2026 – Lane Cove, $3,942,666.60

 VICTORIA

3000 – Melbourne CBD, $12,673,114.35

3029 -Tarneit, Hoppers Crossing, $6,936,031.50

3175 – Dandenong, $6,236,899.50

3030 – Werribee, $6,227,982.00

3064 – Craigieburn, $5,466,427.50

3977 – Cranbourne, $5,350,500.00

3121 – Richmond, Burnley, $4,654,935.00

3150 – Glen Waverley, $4,357,090.50

3350 – Ballarat, $4,036,060.50

3023 – Caroline Springs, $3,663,309.00

 QUEENSLAND

4870 – Cairns, $6,822,182.70

4000 – Brisbane CBD, $5,832,912.15

4350 – Toowoomba, $5,784,259.50

4217 – Gold Coast CBD, $5,548,204.05

4211 – Advanctown, Beechmont, Binna Burra, Gave, Nerang, Pacific Pines, $4,674,258.30

4215 – Australia Fair, Chirn Park, Southport, $4,650,832.95

4220 – Burleigh, Miami, $4,438,202.85

4214 – Arundel, Ashmore, Molendinar, Parkwood, $4,160,702.55

4551 – Arroona, Bells Creek, Caloundra, Shelly Beach, $4,153,494.75

4218 – Broadbeach, Mermaid Beach, Pacific Fair, $4,039,971.90

 SOUTH AUSTRALIA

5000 – Adelaide CBD, $5,784,259

5067 – Beulah Park, Kent Town, Norwood, Norwood South, Rose Park. $2,018,184

5063 – Eastwood, Frewville, Fullarton, Highgate, Parkside, $1,416,332.70

5159 – Aberfoyle Park, Chandlers Hil, Flagstaff Hill, Happy Valley, $1,365,878.10

5045 – Glenelg Area, $1,263,166.95

5061 – Hyde Park, Malvern, Unley, Unley Park, $1,232,533.80

5031 – Mile End, Mile End South, Thebarton, Torrensville, $1,203,702.60

5095 – Mawson Lakes, Pooraka, $1,185,683.10

5162 – Morphett Vale, Woodcroft, $1,153,248.00

5158 – Hallet Cove, Sheidow Park, O’Halloran Hill, Trott Park, $1,131,624.60

WESTERN AUSTRALIA

6065 – Ashby, Darch, Hocking, Wanneroo, $4,672,456.35

6000 – Perth CBD, $3,789,500.85

6163 – Hamilton Hill, Spearwood, $3,706,611.15

6155 – Willetton, Canning Vale, $3,506,594.70

6164 – Cockburn, Jandakot, $3,009,256.50

6027 – Joondalup, $2,944,386.30

6210 – Mandurah, $2,937,178.50

6107 – Cannington, $2,511,918.30

6008 – Shenton Park, $2,497,502.70

6018 – Innalloo, Gwelup, $2,322,713.55

 NORTHERN TERRITORY

The NT postcodes that stand to lose the most are:

0810 – Nightcliff, $1,418,134.65

0820 – Darwin, $1,358,670.30

0870 – White Gums, Alice Springs, $1,066,754.40

0800 – Darwin City, $773,036.55

0812 – Marrara, Buffalo Creek, $585,633.75

0830 – Moulden, $545,990.85

0836 – Girraween, $367,597.80

0822 – Rum Jungle, $354,984.15

0850 – Katherine, $324,351.00

0832 – Mitchell, Rosbery, Zuccoli, $306,331.50

TASMANIA

7250 – Launceston, $3,074,126.70

7000 – Hobart, $2,427,226.65

7310 – Devonport, $1,337,046.90

7018 – Tranmere, $946,023.75

7005 – Sandy Bay, Dynnyrne, $864,936.00

7009 – Moonah, Lutana, $821,689.20

7004 – Battery Point, $764,026.80

7320 – Burnie, $736,997.55

7050 – Kingston, $704,562.45

7249 – South Launceston, $657,711.75

 

 

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