•   
  •   

Australia Coronavirus stimulus package for Canberra will give local economy a $137 million booster

02:20  20 march  2020
02:20  20 march  2020 Source:   abc.net.au

Morrison considers second cash splash in a bid to save the economy

  Morrison considers second cash splash in a bid to save the economy Prime Minister Scott Morrison is currently locked in meetings with Josh Frydenberg and Mathias Cormann as he seeks to finalise details on a second round of coronavirus stimulus. It comes just four days following the announcement of the government’s $17.6 billion stimulus package, which the Coalition had hoped would stem a recession. Sky News Political Editor Andrew Clennell said it was likely the next round of stimulus would come before the May budget. “Scott Morrison is going to spend the next two days … meeting key ministers in areas affected,” he said.

The ACT government will offer rate rebates to all Canberra homeowners and tax relief for small businesses as part of a $ 137 million package designed to deliver rapid-fire stimulus to an economy bracing for a major coronavirus -induced downturn.

Sign up to create alerts for Instruments, Economic Events and content by followed authors. The money is intended not only to help curb the spread of the coronavirus , which has infected 23 people in the country of 34 million , but also to help maintain employment levels and fill gaps in local budgets.

Video provided by Sky News Australia

Cash for public housing tenants, rates rebates, suspended fees and funding for arts and entertainment businesses are just some the components of a wide-ranging stimulus package the ACT Government announced today.

"There will be more to come, there will need to be more to come," Mr Barr said this morning on ABC Radio. Chief Minister Andrew Barr said this first package will be the first of many during the course of the pandemic.

COAG to discuss COVID-19 stimulus today

  COAG to discuss COVID-19 stimulus today Responding to the coronavirus crisis is the top priority as the prime minister prepares for today's COAG meeting with state and territory leaders. The states are being pushed to follow Scott Morrison’s lead after the Federal Government unveiled a $23 billion stimulus package.The plan involves cash handouts to over six million Australians as well as billions to help small businesses get through the coronavirus crisis.The meeting in Sydney will also discuss whether mass gatherings should be cancelled and if more tests should be rolled out.

Australia is considering a second round of economic stimulus , three sources familiar with the deliberations told Reuters, as Canberra accelerated efforts to contain the Australia has recorded nearly 300 cases of coronavirus and authorities fear a rapid rise in the flu-like respiratory disease.

The army is on standby to collect millions of masks from overseas to protect our health care workers as the government tried to tackle a mass outbreak of COVID-19. NOW PLAYING: Life. Coronavirus : Government working on billion stimulus package .

"There will be a second, most likely a third and possibly even a fourth over the coming twelve months."

Andrew Barr wearing a suit and tie: Chief Minister Andrew Barr said the stimulus package would provide immediate relief while longer term solutions were developed. (ABC News: Michael Black) © Provided by ABC NEWS Chief Minister Andrew Barr said the stimulus package would provide immediate relief while longer term solutions were developed. (ABC News: Michael Black) Among the initiatives are a $150 rebate on rates bills for every household and a $622 credit for businesses, a $250 cash payment to public housing tenants, a $20 million fund for contractors to undertake simple works on government assets, and $500,000 in arts grant funding.

What's in the ACT Government's coronavirus stimulus package?

Here is a breakdown of what is in the stimulus package:

  • $150 rates rebate for every household
  • $200 rebate to households receiving the utilities concession
  • Vehicle registration, public transport ticketing and parking fees to be frozen at current levels
  • $622 credit to commercial rates bill
  • $750 rebate to small businesses through their next electricity bill
  • Businesses with a turnover of up to $10m will be able to defer payroll tax for 12 months
  • Affected industries will receive a one-off six month waiver on payroll tax
  • Taxi and rideshare fees waived
  • Food and liquor licence fees waived
  • $20m fund for simple infrastructure works on public buildings
  • Funding for clubs to retain casual staff
  • Public sector staff in events or entertainment redeployed to maintenance works
  • $500,000 in arts grant funding brought forward
  • $7m package for non-government organisations to meet increased demand for social services
  • Additional funding for Lifeline

Mr Barr said the package was designed to complement the Federal Government's, with a focus on sectors most affected by coronavirus.

Second stimulus to flow to small business, welfare recipients

  Second stimulus to flow to small business, welfare recipients Welfare recipients and small businesses are expected to again benefit from the government’s second stimulus package, according to Sky News Political Editor Andrew Clennell. Last week the government unveiled a $17.6 billion stimulus package, which sought to stave off a recession caused by the coronavirus.But Mr Clennell said “things have gotten worse since last week” and the second tranche of assistance could be “even bigger’” than what preceded it. “The governme, than the first $17.6 billion installment that we saw last week,” he said.

Multi-billion-dollar stimulus plan could bring cash relief to Americans As the coronavirus has stalled parts of the economy , the White House said Tuesday that it was considering a stimulus plan that would send cash payments directly to Americans to help replace lost wages.

The army is on standby to collect millions of masks from overseas to protect our health care workers as the government tried to tackle a mass outbreak of COVID-19. NOW PLAYING: News. Coronavirus : Government working on billion stimulus package .

"Some are obviously booming, many are not ... we don't need to be giving tax relief to supermarkets at the moment," he said.

He also said the Government focused on mechanisms that could be done automatically, to try to reduce the need for people to have to seek out relief.

"If we are kind to one another and we exercise our common sense we will get through it," he said.

Full coverage: Read more on coronavirus from Microsoft News
Donate: Support UNICEF's coronavirus response effort through Benevity
More info: Read the latest advice on COVID-19 from the Australian Government
COVID-19 tracker: Interactive map and stats tracking the coronavirus worldwide

Govt to spend $1.2 billion before end of June in response to COVID-19 crisis .
Prime Minister Scott Morrison has officially announced the government's $2.4 billion coronavirus health package, committing to spend $1.2 billion before the end of June. Up to 100 pop-up clinics will be established across the country and a new Medicare item will be created to subsidise video and tele consultations. The emergency health package - which will include a $30 million information campaign to stop panic buying - comes ahead of an economic stimulus package to be unveiled this week.Mr Morrison said the package was designed to assist the straining health system amid the crisis.

—   Share news in the SOC. Networks
usr: 0
This is interesting!