BREAKING: Victoria has recorded 12 new cases of COVID19 and two more deaths. Melbourne’s 14-day rolling average is 26.7 and there are 37 cases with an unknown source. coronavirus COVID19 COVID19Vic COVID19Victoria COVID19VicData
, the Treasurer denied making the temporary insolvency provisions permanent would promote "zombie companies" which were only viable due to JobKeeper payments.Credit:Mr Frydenberg's strategy will embrace key features of the United States' Chapter 11 laws that allow business owners with liabilities of less than $1 million to stay in charge while they deal with their debts.
He also said former Labor prime minister Paul Keating was wrong to criticise the Reserve Bank's pandemic response, noting an already low cash rate curtailed their ability to respond and they had "worked closely" with the federal government.
The Treasurer went on to question Mr Keating's motives: "Why did he make the comments just two weeks after the Reserve Bank had made some comments about the superannuation guarantee and the trade-off between wages and that increase?"
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