Mathias Cormann (WA, Liberal Party, Vice-President of the Executive Council) Share this | Hansard source

The government doesn't set prices. The government doesn't set the interest rates charged by the banks. In the end, we have a competitive banking sector and we are going out of our way to ensure, as you've indicated, that there's the capacity to compare what lenders are offering and ensure they're not taking advantage of SMEs under the scheme; specifically, by requiring weekly reporting on a number of factors, including the average interest rates that are being offered. I would just make the general observation that, compared to what was the case in the past, and in particular and including on the back of some of our initiatives, the interest rates available to small business borrowers now are better than they have been.