The loan is a sovereign, non-commercial loan at libor plus 2% - which, works out to about 3.5% at current rates. That's considered concessionary terms. But, the Senator for the business sector said that the debt burden on taxpayers and the business sector is too great.
Hon. Mark Lizarraga, Business Senator
"The rates are not onerous rates, but what my concern was that we continue to add this debt burden to an already overburdened business community and citizenry. I mean how much more can we bear? We're already at the point where government is consuming 30% of our GDP in tax revenue, and now we hear that the revenue needs to be increased - depends on who you listen to - between 100 million and 200 million in the next fiscal year. I don't know where they're going to get that money from."
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