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Australia Tas to boost virus stimulus to $1 billion

03:00  26 march  2020
03:00  26 march  2020 Source:   msn.com

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.

Chancellor Angela Merkel’s government is evaluating a stimulus program to help revive the German economy after the coronavirus crisis subsides. New data on Tuesday acted as a reminder for how devastating the virus -fighting measures are for Germany’s economy. In March, IHS Markit’s gauge of

Read more: Germany Unleashes 0 Billion Package to Cushion Virus Blow. Government officials are concerned that these measures may not be enough to kick-start the economy once the virus has been contained and are considering a more classical stimulus program largely financed by new debt

Tasmania will announce a second wave of coronavirus stimulus measures on Thursday, taking the state government's spend to about $1 billion. © AAP Image/James Gourley Tasmania will announce a second wave of coronavirus stimulus measures on Thursday, taking the state government's spend to about $1 billion. Tasmania will more than double its coronavirus economic stimulus package to around $1 billion, Premier Peter Gutwein has announced.

The second wave of state government measures to support local businesses will be announced on Thursday, on top of an initial $420 million spend last week.

"Never before has the state had to take steps of this magnitude," Mr Gutwein said.

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More info: Read the latest advice on COVID-19 from the Australian Government

Six million workers to be paid under govt's $130 billion JobKeeper scheme .
Up to six million workers will receive fortnightly payments under the government's $130 billion JobKeeper scheme. Within an hour of the announcement, 8000 businesses signed up for the JobKeeper allowance which will see them paid $1500 a fortnight for each worker they keep on the books for the next six months. The prime minister stressed the importance of keeping business running amid the COVID-19 pandemic, saying “we want to keep the engine of our economy running through this crisis”.

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