Business
The government’s stimulus gift almost no one wants – Sydney Morning Herald
How hard can it be to give away a $40 billion business assistance package? Ask Josh Frydenberg.
A significant difference between phase one/two and Thursdays revamped package is that the government will increase the proportion of the loan it will guarantee from 50 per cent to 80 per cent.
Josh Frydenberg offers cheap money to COVID-troubled businesses.
The loans are actually provided by banks that sign up for the government package. The lenders are able to offer a discounted interest rate because the partial government guarantee reduces the risk to the banks.
Thanks to the initial 50 per cent…
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