25 minutes ago
Businesses will be able to access cheaper loans to help reduce their dependence on gas as part of a new scheme in Thursday's Budget.
The move was announced by ministers on Monday, along with a promise of a law change forcing the gas industry to provide better information on supply and demand.
Under the lending initiative, the government would guarantee 80 percent of eligible loans, allowing banks to offer lower interest rates to companies switching to alternative energy sources, such as electricity or bio energy.
Finance Minister Nicola Willis said the Budget would put aside $48 million to cover potential losses, unlocking an estimated $1.2b in bank loans.
