MONIQUE WRIGHT:
Morning to you, Treasurer, thanks for being with us.
JOSH FRYDENBERG:
Good morning Monique, nice to be with you.
MONIQUE WRIGHT:
Yeah, Thanks for having us. Thanks for being with us. The Queensland border will remain open and provide local businesses with that security that they really need going into the new year because lots of businesses are still very nervous there.
JOSH FRYDENBERG:
Well, this is a great Christmas present for thousands of Queensland businesses. The Queensland tourism industry is worth more than $20 billion a year. It supports more than 200,000 jobs and it's a vital part of the Queensland economy, and when Queensland prospers Australia prospers. I'm confident that we can keep the borders open. I'm confident that we can live safely with COVID‑19. I mean, we are going to see more variants of the virus and Omicron is a reminder of that. We're not out of the pandemic just yet, but the vaccine, which has been taken up in record numbers right around the country, nearly 90 per cent of eligible people having had the vaccine is a proven defence against the virus, and we've seen a reduction in hospitalisations, a reduction in deaths, and we've seen freedoms come back, particularly in those two locked down states of Victoria and New South Wales.
MONIQUE WRIGHT:
Treasurer, your announcement overnight about the recovery loan scheme, you've extended that by another six months, is that an indication that we really are not out of the woods just yet? If businesses are still needing these loans.
JOSH FRYDENBERG:
Monique, small businesses have done it very tough throughout this crisis. The health restrictions have seen their doors closed, and obviously some of their customers have not been able to come and shop or enjoy the hospitality services that they otherwise would have. That's why we've been there for small businesses every step of the way, whether it was JobKeeper to keep their staff on, whether it was the cash flow boost, which was $35 billion of economic support, or whether it was working with the banks so that they didn't have to meet the repayments on their loans or whether it was working with landlords in the states so that they could get rental relief. We've been there every step of the way. And this loan scheme is providing loans of up to $5 million for up to ten years in duration. It can be secured or unsecured. It can be used to refinance existing loans. Or if you're a tradie going out and buying new equipment, or if you're a manufacturer going up to grading your production line or if you're a cafe getting a new kitchen. This is money, it's not free money, but this is money that you can borrow to then back your own business and your own self. That's what we're seeking to do.
MONIQUE WRIGHT:
All right. Treasurer Josh Frydenberg thank you for your time this morning. We appreciate it.
JOSH FRYDENBERG:
My pleasure.