Government boosts its Business Improvement Fund by another $35 million

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A sign that the Government’s rescue fund for struggling operators is working? Ian Yates says yes.

The Federal Budget has delivered another $35.6 million in funding for the Government’s Business Improvement Fund (BIF) to provide grants to eligible aged care facilities that are experiencing financial difficulty.

As we reported here, the Government announced the scheme in February in the wake of Australia’s horrific bushfire season with the aim of helping providers restructure their business operations, transfer ownership or exit the sector.

COTA Australia CEO Ian Yates says the measure indicates the program is working – and helping poor providers get out of the system.

“Ahead of the Royal Commission, that has been a really important addition,” he said.

Given Peter Dutton’s comments last week about coming down on “bad operators”, it could be the first of more measures to come.