The government hasn’t officially announced it yet but we all should find out today whether they will go ahead with the speculated $10billion stimulus package.
This could see Newstart recipients, pensioners and small business owners get a one off cash payment of a few hundred dollars.
Like the last stimulus package after the GFC, this one is aimed to stimulate growth and try combat the economic downturn, an impact of coronavirus fears.
The payouts to businesses should help them through low trade as well as encourage them to allow their staff proper sick leave if necessary, even if they’re not entitled.
Public spending and supply chains have affected small businesses so they really are the focus of this package.
However low income earners are more likely to spend their package over mid to high income earners who apparently are more likely to save their cash because they don’t need it, which is why the package also targets this bracket of earners.
Lets see what else the government announces today.