PM’s cash splash to save jobs

Original article by Simon Benson, Geoff Chambers
The Australian – Page: 1 & 4 : 12-Mar-20

Prime Minister Scott Morrison is confident that all necessary legislation for the federal government’s economic stimulus package will be passed in the last sitting week of Parliament prior to the Budget in May. The package will cost almost $18bn in total, in addition to the government’s $2.4bn health plan in response to the coronavirus. Small and medium enterprises will be a focus of the package; they will receive a cash payout of between $2,000 and $25,000, plus a wage subsidy to ensure that they continue to employ apprentices. The threshold for the instant asset write-off will be increased from $30,000 to $150,000. The stimulus package will rule out a Budget surplus for 2019-20.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

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