Treasurer says let credit flow
(11 February 2009 – Australia) Australian Federal Treasurer, Wayne Swan, has sent a message to banks that they have an obligation to supply credit to viable firms.
Swan said that Australian businesses that are viable should not be denied the credit that they require but are finding hard to access.
The Treasurer and Prime Minister Kevin Rudd are talking to the four major Australian banks about the access to credit that businesses currently receive.
Australian businesses are vital to the ongoing success of the Australian economy and often require access to credit to fund day to day operations.
The Australian banks have received the support of the Australian Government through a deposit guarantee, and it is this support that should be passed on to businesses, according to the Government.
If there are viable businesses that have an adequate income and are profitable into the future then they should be supported by the banking system which has received, after all, the support of the Australian Government, Swan told ABC’s Four Corners program.
Swan has called on businesses to come forward if they feel they have been unfairly treated.
The Government would be very interested in hearing from companies if they think they have been dealt with harshly and unfairly by the banking system, Swan said.
The Treasurer and Prime Minister Kevin Rudd are talking to the four major Australian banks about the access to credit that businesses currently receive.
Australian businesses are vital to the ongoing success of the Australian economy and often require access to credit to fund day to day operations.
The Australian banks have received the support of the Australian Government through a deposit guarantee, and it is this support that should be passed on to businesses, according to the Government.
If there are viable businesses that have an adequate income and are profitable into the future then they should be supported by the banking system which has received, after all, the support of the Australian Government, Swan told ABC’s Four Corners program.
Swan has called on businesses to come forward if they feel they have been unfairly treated.
The Government would be very interested in hearing from companies if they think they have been dealt with harshly and unfairly by the banking system, Swan said.
Subscribe