Malcolm Turnbull: There Will Be No Handouts For Businesses

Getty/Stefan Postles

Senior frontbencher Malcolm Turnbull has made an example of the governments refusal to bail out Qantas and SPC Ardmona, saying assistance in the long-term would be “counterproductive”.

Businesses will now be “recalibrating” their positions, recognising the Coalition was “not going to be rushing in and writing out cheques and providing guarantees”, he told Sky News.

Turnbull also said he thought Qantas’ approach was unwise.

“If … in order to [seek assistance] you emphasise your vulnerabilities and then you don’t get the government assistance, all the market is left with is the impression that you have vulnerabilities that perhaps … have been given a disproportionate emphasis,” Turnbull said.

His comments come after the federal government last week refused to give Qantas a debt guarantee.

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