Bank chief executives have backed the government's revamp of a scheme to provide up to $40 billion in taxpayer-backed loans to help the recovery of small and medium-sized firms.
Commonwealth Bank chief Matt Comyn, who last week said support for small business would loom large in the government's thinking, said the expanded scheme would give businesses a deeper pool of financial support.
In addition to Sunday's support for SME lending, banks expect the government will throw more support at the hard-hit small business sector, amid fresh warnings some firms will not be able to re-open following Victoria's second lockdown. "I have no doubt that going forward there will have to be some level of support at the federal level and the state level," she said in an interview.
Look on a positive note on immigration & their contribution in manufacturing, IT, farming & job creation, make d strong law for mask, gel, distancing, etc. & open d borders 4 all control by quota system & quarantine as of now. pledgecovidfreeaustralia pledgecovidnorms
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Safe as houses no more as banks fear spike in bad loansAs Australia's two biggest states battle a coronavirus resurgence, senior bankers are facing up to a grim reality: the unprecedented government and bank-provided lifelines will not be enough to save everyone. It's illegal in Australia for house prices to go down or be affordable for the young.
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PM 'inspired' by 'businesses' innovation' amid coronavirus crisis | Sky News AustraliaThe 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. \n\nSpeaking 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]”. \n\n“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. \n\n“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.” \n\nMr Morrison also flagged further announcements would be made on the JobSeeker and JobKeeper programs in the near future.\n\nImage: Getty BREAKING: Bannon: Chinese Communist Party must turn over every piece of information, open up P4 lab, and let Americans can all the scientists around the world go in there interview everybody and get every document! 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? INVEST IN RENEWABLES! You will save 10,000's every year
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Company loan scheme expanded in JobKeeper overhaulSmall employers will be given greater access to a $40 billion loan scheme to help them through the recession.
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Company loan scheme expanded in JobKeeper overhaulThe government is under pressure from unions, social service groups, Labor and the Greens to keep JobKeeper payments of $1500 a fortnight flowing to as many people as possible when the scheme is adjusted within days. PS; Carers and Disability Support Pensioners which used to be the highest paid benefits, acknowledging their inability to earn more money. They are now the big loosers with no changes and the lowest paid amidst a increasingly more costly society. The only group that missed out Keep Job Seeker at current rates to stimulate economy and keep 500,000 out of poverty. Just what to doctor ordered....more debt for future Australian's and their businesses. You would be mad to take on further debt, knowing your business might not be running at full capacity for 6-12 months.
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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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