Australian households should not expect Kevin Rudd-style cash payments to stimulate the economy in the wake of coronavirus, Mathias Cormann has warned.
The finance minister told Sky News on Friday that the government would focus on encouraging businesses to invest in and employ workers, appearing to rule out cash payments to all individuals, although measures to help sections of the population such as pensioners are still on the table.
The Morrison government is working on a stimulus package believed to include a new business investment allowance, a boost to pensioners’ income via deeming rates, and measures targeted at affected industries such as tourism.
Read more: https://www.theguardian.com/australia-news/2020/mar/06/cormann-rules-out-rudd-style-cash-splash-to-boost-australian-economy-as-coronavirus-bites
The finance minister told Sky News on Friday that the government would focus on encouraging businesses to invest in and employ workers, appearing to rule out cash payments to all individuals, although measures to help sections of the population such as pensioners are still on the table.
The Morrison government is working on a stimulus package believed to include a new business investment allowance, a boost to pensioners’ income via deeming rates, and measures targeted at affected industries such as tourism.
Read more: https://www.theguardian.com/australia-news/2020/mar/06/cormann-rules-out-rudd-style-cash-splash-to-boost-australian-economy-as-coronavirus-bites
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