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PM unleashes another $66b, more to come

Phillip Coorey
Phillip CooreyPolitical editor

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Key Statistics

  • $31.9bCash flow boost for employers and charities of up to $100,000, up from $25,000.
  • $20bAugmented Newstart payments for workers who lose their jobs
  • $40b facilityGovernment-guaranteed loans of up to $250,000 for 3 years for small businesses.

Cash payments for small and medium business have been boosted to $100,000 each, and they will also have access to cheap government guaranteed loans, as part of a $66 billion coronavirus rescue package to be announced on Sunday.

Today's announcement will take to $189 billion the total so far thrown at the crisis - which is 9.7 per cent of GDP. AAP

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Phillip Coorey is the political editor based in Canberra. He is a two-time winner of the Paul Lyneham award for press gallery excellence. Connect with Phillip on Facebook and Twitter. Email Phillip at pcoorey@afr.com

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    Original URL: https://www.afr.com/link/follow-20180101-p54cjc