PUNTERS who have already splurged their $900 cash handout shouldn’t hold their breath for more freebies in this month’s Budget, economists say.
HSBC chief economist John Edwards said he would be “astonished” if the Budget included another cash handout like the one announced in February, in which millions of Australian workers received up to $900.
Mr Edwards said a possible third stimulus package would more likely cover Commonwealth funding for health, education and other forms of infrastructure.
“That’s what people mean by stimulus package – I don’t think there would be another cash payment,” Mr Edwards told news.com.au.
Since Budget predictions gained momentum last month, it has been widely speculated Prime Minister Kevin Rudd and Treasurer Wayne Swan would engineer another spending plan in a bid to reduce the effects of recession.
Read more…Another $900? Don’t hold your breath | Money Matters | News.com.au
THE Greens will vote for the Kevin Rudd’s $42 billion stimulus package after the Federal Government agreed to spend money on job creation, said Greens leader Bob Brown.
The Federal Government will cut $435 million from tax bonuses and cash payments and instead spend the money programs Senator Brown said were about “job creation and nation-building infrastructure.”
“Many projects which are shovel ready will now get the funding they deserve,” he said.
Senator Brown also hinted at a deal to build extra bicycle paths across the country, saying $40 million would be spent on bike paths across the country, creating up to 700 jobs.
Read more…
Greens agree to Rudd Government stimulus plan after bikepath, job creation concessions | Business | News.com.au
FAMILY First senator Steve Fielding has given the strongest indication yet that he’ll vote in favour of a multi-billion dollar stimulus package this week.
While he still wants a number of changes, the Victorian senator is confident of reaching an agreement with the Rudd Government.
“I think another three or four days we should be able to get to the bottom of it,” Senator Fielding said.
“We should be able to get to some agreement on how the $42 billion should be spent.”
The Government needs the support of all five Greens senators, independent Nick Xenophon and Senator Fielding to get the package through the upper house.
Senator Fielding said Family First was not in the camp of just saying no.
“Australians elect a government of the day to govern,” he said. “They should be able to put forward a plan.
“The Senate has also been elected … just to make sure people aren’t missing out.”
Senator Fielding wants $4 billion set aside to create 100,000 jobs in local communities.
A Newspoll out today shows support for Labor jumped four percentage points after the $42 billion stimulus package was announced last week.
Stimulus package ‘will be passed this week’ | Breaking News | News.com.au
THE Rudd Government’s economic management and $12 billion cash giveaway have been strongly endorsed and have given Labor the same big boost it got before the pre-Christmas $10 billion cash splash.
According to the latest Newspoll survey, taken exclusively for The Australian at the weekend, primary vote support for Labor jumped five percentage points to 48 per cent – the same as in December – after the $42 billion economic stimulus package was announced last week.
A large majority of those surveyed, 63 per cent, also think the Rudd Government is doing a good job managing the economy during the global financial crisis and only 33 per cent think the Coalition would do a better job.
Voters punish Malcolm Turnbull for blocking Kevin Rudd’s economic stimulus package | National News | News.com.au
KEVIN Rudd and Wayne Swan have called Malcolm Turnbull the lone roadblock keeping billions of dollars out of the pockets of millions of Australians and leaving jobs “swinging in the breeze”.
In a 15-minute press conference aimed squarely at the Opposition Leader, the Prime Minister said Mr Turnbull should get his party behing the $42 billion stimulus package or “get out of the road” of its passage through Parliament.
He said he and the Treasurer were meeting with 200 business representatives and all of them had projects ready to go, once the funding was approved in Canberra. “Only Mr Turnbull stands in the road,” Mr Rudd said.
“Therefore I would say to Mr Turnbull and the Liberal party, get out of the road of the Government getting on with the job of nation-building and supporting jobs at a time of national economic emergency.”
Mr Swan said Mr Turnbull was “playing with fire” and that Coalition support for the package was the only way it could be delivered quickly. The package is currently before the Senate, where the Government is negotiating with minor parties ahead of an expected vote next week.
Read more…‘Get out of the road’, Kevin Rudd tells Malcolm Turnbull | National News | News.com.au
