Simon Birmingham (SA, Liberal Party, Minister for Trade) Share this | Hansard source

I thank Senator Hanson-Young for her question. Indeed, the government shares her concern for many businesses across Australia who are doing it tough at present in the tourism sector, not just because of the bushfire impact. If Senator Hanson-Young consulted out across the tourism industry right around Australia she would find there are tourism businesses well outside of bushfire affected areas who faced consequences from the bushfires as a result of much of the misinformation and lies that were spreading on the internet or reported internationally about where the fire impacts were had. Equally, the coronavirus has had an impact, and is having an impact now, not just on travel in Australia but on global travel. So we have a circumstance where tourism businesses right around the country are doing it tough: those who are internationally facing and rely more upon global tourism markets, who are feeling particular pressures, and those directly in fire affected regions, such as Kangaroo Island in our home state, Senator Hanson-Young, New South Wales and Victoria—particularly those coastal communities, some of which I've visited, who rely upon the period of six weeks or so over Christmas for the bulk of their cash flow.

The government has provided for up to $500,000 in concessional loans, which you referenced in part, Senator Hanson-Young. Those concessional loans can assist businesses in a range of different ways in terms of how they structure themselves, including accessing capital during these tough times. Those concessional loans come at zero interest for the first two years and apply at half of the bond rate thereafter. So these are highly concessional loans to help businesses who may not have the types of insurance products that some others do have to be able to see themselves through these tough times. Importantly, they also complement the efforts we're making to try to lift tourism, again notwithstanding— (Time expired)