Government COVID-19 $17.6 billion Economic Stimulus Package
The Morrison Government announced a $17.6 billion stimulus package on the 12th March 2020, providing support to Australian Individuals, Businesses & Households. The package is composed of four sections:
1. Delivering Support for Business Investment
2. Cash flow assistance for businesses
3. Stimulus payments for households to support growth
4. Assistance for severely-affected regions
The Prime Minister has stated “Australia is not immune to the global coronavirus challenge, but we have already taken steps to prepare for this looming international economic crisis.” The Morrison Government aims for this stimulus package to keep businesses operating and keep Australian’s in their jobs, so we are able to bounce back strongly.