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Australia unveils $11.4 billion stimulus plan to cushion coronavirus impact
From Akanksha Sharma in Hong Kong
Australia has unveiled a 17.63 billion Australian dollars ($11.4 billion) economic stimulus plan, the country's Prime Minister Scott Morrison said in a news release on Thursday.
The package includes wage subsidies and cash payments for small businesses, to counter the impact of the novel coronavirus.
“Our plan will back Australian households with a stimulus payment to boost growth, bolster domestic confidence and consumption, reduce cash flow pressures for businesses and support new investments to lift productivity”, Morrison said.
To achieve this the plan is split in four parts focusing on boosting business investment, providing cash flow for small and medium sized businesses, supporting affected communities and backing Australian households.
this makes US look like cheap asses, unless it is to buy more toilet paper
From Akanksha Sharma in Hong Kong
Australia has unveiled a 17.63 billion Australian dollars ($11.4 billion) economic stimulus plan, the country's Prime Minister Scott Morrison said in a news release on Thursday.
The package includes wage subsidies and cash payments for small businesses, to counter the impact of the novel coronavirus.
“Our plan will back Australian households with a stimulus payment to boost growth, bolster domestic confidence and consumption, reduce cash flow pressures for businesses and support new investments to lift productivity”, Morrison said.
To achieve this the plan is split in four parts focusing on boosting business investment, providing cash flow for small and medium sized businesses, supporting affected communities and backing Australian households.
"Australia is not immune to the global coronavirus challenge but we have already taken steps to prepare for this looming international economic crisis," Morrison said in the news release.
"Both this financial year and in the next two financial years, the gross impact of that stimulus is $14.82 billion US dollars (A$22.9 billion). That's 1.2% of GDP".
Australia unveils $11.4 billion stimulus plan to cushion coronavirus impact
Australia has unveiled a 17.63 billion Australian dollars ($11.4 billion) economic stimulus plan, the country's Prime Minister Scott Morrison said in a news release on Thursday.
www.cnn.com
this makes US look like cheap asses, unless it is to buy more toilet paper