Federal Government Stimulus package to boost the Australian Economy

The Federal Government will today unveil the details of a stimulus package worth an estimated $15 billion to boost business and save jobs amid the Coronavirus outbreak.

Wage subsidies for apprentices, cash boosts for small businesses and more instant asset write-offs for business have all been flagged to keep the economy moving.

Mr Morrison is confident Australia can afford the multi-billion dollar boost and is optimistic the package could help the country dodge a recession altogether.

“What we’ve been able to do, puts Australia in a position to deal with the temporary shock of this virus and how long that goes for, whether it’s six months or a bit less than that or a bit more than that, we’re well positioned to deal with it,” he told Today.

“We’ve not been reckless about this. We’ve been very careful about it. Because we know on the other side, we’re going to bounce back, we’re going to bounce back strongly.”

There has been 112 confirmed cases of Coronavirus (COVID-19), including 3 deaths in Australia.

  • 60 in New South Wales
  • 15 in Queensland
  • 6 in South Australia
  • 2 in Tasmania
  • 15 in Victoria
  • 4 in Western Australia
  • 10 associated with the Diamond Princess cruise ship

The Australian Government has committed to a 50-50 shared health funding deal with the states and territories to ensure a rapid health response to the evolving COVID-19 (coronavirus) outbreak.

Mr Morrison has announced the activation of the Australian Health Sector Emergency Response Plan for the Coronavirus (COVID-19).