Treasurer Josh Frydenberg fires up corporate donors

Josh Frydenberg has been urging businesses, including the big four banks, to get behind bushfire relief effort.

Treasurer Josh Frydenberg. Picture: AAP

Josh Frydenberg has been actively courting corporate Australia — including each of the big four banks — to get behind the recovery effort following bushfires that have devastated parts of the country.

The Treasurer spoke to the Business Council of Australia over the weekend urging the private sector to assist in the disaster relief effort, prompting the peak business group to use its membership base to pull together a $25m trust to support the families of volunteer firefighters.

He has since been getting in touch with the chief executives of some of Australia’s biggest companies, encouraging them to support fire-affected communities.

When asked about his involvement in securing corporate support, Mr Frydenberg told The Australian: “Corporate Australia has been doing some excellent work providing both cash and in-kind support to the fire-affected communities.

“The generosity of the private sector is both encouraged and appreciated at this time of need.”

“Whether it’s the provision of fuel, food, clothing or emergency accommodation, it’s helping to make a difference on the ground and financial support will be important in the rebuild effort.”

In addition to private sector donations, Scott Morrison announced an initial $2bn package on Monday, vowing to do “whatever it takes” to get bushfire ravaged communities back on their feet.

The fund will provide grants via the new National Bushfire Recovery Agency to farmers and small business as well as delivering mental health support, rebuild roads, bridges and telecommunications infrastructure.

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The big four banks have announced various grant programs of their own. On Tuesday, Australia’s biggest farming lender, NAB, increased its support from $1m to $5m and said there would be no foreclosures on bushfire-affected farmers while announcing deferral of loan repayments and interest for up to three years.

The other three major banks have each pledged $1m to support fire-affected communities.

One of the biggest donations came from The Paul Ramsay Foundation — named after the late founder of biggest private healthcare provider Ramsay Healthcare — set aside $30m to support bushfire victims.

Other corporate donations have included $5m from the Packer family and Crown Resorts; $1m from the Pratt Foundation; $2m from mining giant BHP; and News Corp Australia (publisher of The Australian) is raising up to $1m.

On Wednesday Orica donated $1m to be shared between the Victorian Bushfire Appeal, the NSW Rural Fire Service and a range of relief charities.

The fires have devastated dairy farms across NSW’s South Coast and in eastern Gippsland, the main milk catchment area of Bega Cheese, which has confirmed a number of its suppliers have been affected, triggering a share price fall of more than 5.8 per cent this week.

Long-time Bega adviser and prominent investment banker David Williams called on the big supermarket chains to promote brands that have had their supply chains affected.

“At times like this we need to be promoting Australian brands that support local farmers affected by the fires. It would be nice if Coles and Woolworths promoted Bega Cheese over NZ cheese at this time and helped the farmers of the Bega Valley,” he said.

“They could go further and offer to donate 20 cents for every block purchased,” he added, highlighting Capilano Honey’s drought and bushfire relief branded products, which will donate 20c from every sale.

Coles is accepting donations for the Red Cross Disaster Relief and Recovery Fund and continuing to donate food, water and other essential supplies to emergency services and evacuation centres in fire-affected areas. Coles is also donating $3m in giftcards for firefighters.

Meanwhile, Woolworths has raised in excess of $1m through its partnership with the Salvation Army to provide essential items in local evacuation centres, as well as providing support to local rural fire crews as needed.