PM 'inspired' by 'businesses' innovation' amid coronavirus crisis | Sky News Australia

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The Morrison government has announced an extension to the loan guarantee scheme which allows businesses to borrow up to $1 million and use it for investment opportunities.

Speaking to the media on Monday, Prime Minister Scott Morrison said he was inspired by “the way businesses sought to adapt to see themselves through [COVID-19]”. “One of the ways we’ve been able to be effective as a country has been because we’ve been listening to what’s happening on the ground and we’ve been adapting our policies and fine-tuning them over time,” he said.

“COVID-19 has been uncharted waters for the entire world, and here in Australia we’ve been very focused on trying to stay ahead of the game, listening very carefully to what the needs of businesses and employers have been so they can keep people in jobs.” Mr Morrison also flagged further announcements would be made on the JobSeeker and JobKeeper programs in the near future. Image: Getty

 

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That’s great for businesses, but what about the people who have worked hard all their lives and lost their jobs and are facing bankruptcy due to this pandemic? What about funding a HECS of HEFS type scheme to help stop us from going bankrupt $50K for singles and $100K for family?

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Small business thrown a lifeline as govt expands loan guarantee scheme | Sky News AustraliaSmall businesses are set to receive another lifeline amid the coronavirus crisis as the Morrison government moves to expand its loan guarantee scheme. \n\nThe March program prepared for up to $40 billion in loans to be given out however only $1.5 billion in loans were so far guaranteed, allowing the government to expand the current cap of $250,000 per business to $1 million. \n\nThe time frame over which loans could be paid was also set to be extended from three years to five years. \n\nThe move comes as the Treasurer was expected to provide a budget update on Thursday where he would reveal the future of the JobKeeper scheme. \n\nImage: Getty push people into loans . . . how noble
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