Morrison to meet banks over virus supports 20200626 p5xv8y.html – Breaking News & Latest Updates 2026
Advertisement
Advertisement
This was published 6 years ago

Morrison to meet banks over virus supports

AAP

Powered by

The prime minister and treasurer are meeting the heads of Australia's big banks to discuss the end of six-month loan deferrals in place to help people through the coronavirus pandemic.

Concerns have been raised about the economic impact when a suite of supports, including wage subsidies and extra unemployment payments alongside mortgage relief, all end in September.

"The government has a range of measures in place until September - the banks also - and we do want to ensure there's smooth transitions that occur," Scott Morrison told reporters ahead of the meeting on Friday.

Advertisement

He noted while parts of the economy are starting to reopen now, other sectors would be much slower and need continuing support, including aviation, entertainment and tourism.

"We're looking to make sure that we're integrating all of that," he said.

He and Treasurer Josh Frydenberg will also urge banks to fast-track finance for people wanting to access government grants to build new homes.

Leaders meeting as national cabinet on Friday morning discussed the need to ensure building approvals were issued in a timely manner for people wanting to access the $25,000 HomeBuilder grants from the Commonwealth, especially those in areas hit by bushfires over summer.

People in the NSW town of Cobargo, which was devastated by the fires, say they are ready to start rebuilding their homes but are stuck in a queue of planning approvals.

To qualify for the HomeBuilder grants, people have to sign a building contract by the end of December and start construction within three months, meaning planning approval delays could lead to them missing out on the money.

email icon

Contact us

Share a tip-off, video or photo with us

Most viewed in Australia

More to explore