Australia will wind down emergency financial payments aimed at helping people and businesses affected by the coronavirus pandemic as Covid-19 vaccinations rise, with payments in some states likely to end in weeks, reports Reuters.

The federal government has spent over nine billion Australian dollars since June to support around two million people, but will phase out the payments as vaccination levels near targetted levels at 70 per cent to 80pc, Federal Treasurer Josh Frydenberg has said.

“We are expecting when restrictions ease, people will get back to work, businesses will reopen and people will go about their daily lives,” Frydenberg told a media briefing.

Frydenberg said the automatic renewal of payments will end once states reach 70pc full vaccination and affected workers must reapply each week to confirm their eligibility. Payments will stop two weeks after the 80pc target is met.