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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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
Source: SkyNewsAust - 🏆 7. / 78 Read more »