Prime Minister Scott Morrison has unveiled new measures aimed at helping renters struggling through the coronavirus outbreak.
The announcement will provide much-needed relief for thousands of Australians who have recently lost their jobs as the global pandemic savages the economy.
Morrison revealed on Sunday evening that state and territories governments will be moving to put a moratorium on evictions of persons as a result of financial distress, if they are unable to meet their commitments.
“If they are unable to meet their commitments...there would be a moratorium on evictions for the next six months under those rental arrangements,” the Prime Minister said.
The Prime Minister encouraged landlords to enter discussions with tenants in order to support Aussies in financial strain.
Also read: Evictions should be illegal: Housing expert
“My message to tenants, particularly commercial tenants, and commercial landlords, is a very straightforward one - we need you to sit down, talk to each other and work this out,” the Prime Minister said.
“There is no rule book for this. We are in unchartered territory, but the goal should be shared and that is a business that can reopen on the other side, not weighed down by excessive debts because of rental arrears,” he said.
The government said these measures were set to last for at least six months, and more measures would be announced in the coming days.
“We will be engaging with business and landlords and banks over the next couple of days to seek to get even stronger provisions in place so they can all sit down and get this sorted,” the Prime Minister said.
Big banks’ mortgage relief
Small businesses have been offered a $100 billion lifeline, with the big banks promising to defer loan repayments.
“This Assistance Package will apply to more than $100 billion of existing small business loans and depending on customer take up, could put as much as $8 billion back into the pockets of small businesses as they battle through these difficult times,” Bligh stated.
“This is a multi billion dollar lifeline for small businesses when they need it most, to help keep the doors open and keep people in jobs.”
Some Australian homeowners can also access home loan deferrals, with ANZ and CBA offering six-month home loan deferrals.
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