‘Spreading the pain’: Finance Minister Mathias Cormann warns landlords they will have to grant rent relief through the coronavirus crisis

Business Insider Australia | Mar 27, 2020 at 12:46 AM
  • Finance Minister Mathias Cormann has flagged that commercial and residential landlords will have to wear some of the “pain” by granting rent relief due to the coronavirus economic downturn, as governments prepare to lead by example and waive rent for business tenants.
  • Ahead of a national cabinet meeting of federal and state leaders, Senator Cormann also flagged a third economic rescue package would be announced in the “next few days”, on top of the $189 billion in government spending and central bank lending measures taken so far.
  • After today’s video meeting of the prime minister and premiers, governments are expected to lean on landlords to give relief to commercial and residential tenants who lose business and employment income due to large swathes of the economy going into virtual shutdown.