and appear willing to lend to thousands more companies, with their risks reduced because half the loan value would be guaranteed by the Commonwealth."The expanded scheme will allow businesses to access more credit for a longer period of time," Mr Frydenberg said in a statement ahead of the changes.
Finance Minister Mathias Cormann said on Sunday that the government would continue income support beyond the original expiry date for JobKeeper at the end of September. Senator Cormann said the further support would be for employers who were "particularly severely impacted" by the crisis, so they could keep their staff.
ACTU president Michele O'Neil called for a bigger federal plan to retrain the unemployed, on top of last week's $2 billion vocational education package, and for continued JobKeeper payments. ACOSS chief Cassandra Goldie said the government should embrace a "jobs and training guarantee" so people aged 25 years and under could gain a subsidy to do paid work experience and training.
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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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