Flaw in Labor’s loans will cost jobs

Tuesday March 31, 2020

Flaws in the Palaszczuk Labor Government’s COVID-19 package for business must be urgently fixed to allow recently-founded firms to apply for interest-free loans.

Shadow Small Business Minister Fiona Simpson said many firms had been shocked to discover that they can only access the loans if they were founded before July 2017.

“These loans are meant to help businesses facing bankruptcy, but many employers are now discovering the loans are a cruel hoax,” Ms Simpson said.

“One business with 13 employees has been told they don’t qualify because they were established after July 2017.

“The rule is wrong and denies these small businesses the help they say they need.

“Businesses and their employees should not be denied help because of Jackie Trad’s ridiculous rule.

“Jackie Trad’s economic response package was late in being released and is light-on in real help to many businesses.

“The Treasurer could easily fix this blatantly unfair rule but it seems she doesn’t value anyone who started a business after July 2017 or anyone who works for one.”

Ms Simpson said the date should be changed to offer the loans to any Queensland businesses founded before January 31 this year.

“It’s heartbreaking when people who think they have help find out they’re denied on a flawed rule,” Ms Simpson said.

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