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PRIME MINISTERI
FOR MEDIA 15 FEBRUARY 1990
The Premier of New South Wales, Mr Greiner, and the Prime
Minister today announced agreement to further assistance
measures for Newcastle earthquake victims.
The special measures for Newcastle were required because
of the extent of losses suffered by householders and
business people as a result of the earthquake.
The measures are to be available as a " safety net" when
people in genuine need are unable to be adequately
assisted by the arrangements already in place.
The special assistance for Newcastle will apply as
follows:
H~ azseholdpra Government assistance will be available for those
who had under-insured 8s well as those who had no
insurance cover.
Grant assistance will continue to be available to
assist those who satisfy the New South Wales
Government's eligibility criteria based on income
and assets.
Those who are ineligible for grants would previously
have not been able to receive any disaster
assistance. However, the Governments have now
agreed to a " safety net" being introduced in the
form of loans at the low rate of 6% per annum. This
measure is in special recognition of the extent of
damage to houses in Newcastle.
The safety net will apply to householders in the
situation of being ineligible for grants but unable
to afford to borrow through commercial channels.
These people will now have access to cheap loans to
restore houses to safe and habitable conditions.
Egmall R. u. nnppa
The New South Wales and Federal Governments have
decided that a special assistance measure is needed
in addition to the low interest loan scheme
previously announced.
2
This special measure will be made available to those
small business which are deemed to have been in a
sound financial position prior to the earthquake but
which are unable to take advantage of the existing
concessional interest loan scheme due to an
inability to service additional debt.
The assistance will be in the form of grants, and
applications will be assessed by a committee
comprising State officers from the Rural Assistance
Authority, Business and Consumer Affairs, Treasury
and the State Bank.
cost Sharing
The costs associated with these special relief measures
will be shared by the New South Wales and Federal
Government under the for cost sharing arrangements
previously agreed to.
Mr Hawks and Mr Greiner also took the opportunity to urge
all Australians to ensure that they have a proper level
of insurance cover for their homes anid businesses.
While the relief measures being made available by our
Governents will assist in alleviating the suffering of
disaster victims, particularly those in most need, the
schemes should not be regarded as an alternative to
normal insurance arrangements.
Those who believe they may be eligible for the new or
existing relief measures should submit claims at the
earliest opportunity.
EARTHQUAKE RELIEF CONTACT POINTS:
Hnu~ pholdar. DISASTER RECOVERY CENTRE AND EARTH-QUAKE INFORMATION
CENTRE 406 KING STREET
NEWCASTLE Telephone: 296161
Small Husiness
BUSINESS AND CONSUMER AFFAIRS
251 WHARF ROAD
NEWCASTLE Telephone: 295818