government announced cash payments to lower income households of over A10

Government announced cash payments to lower income

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government announced cash payments to lower-income households of over A$10 billion in early February 2009 the government announced a second and larger fscal stimulus of A$13 billion in tax bonuses to households, A$22 billion in school infrastructure and public housing, A$4 billion to insulate housing and A$3 billion in incentives for business investment two stimulus packages
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4. Evaluating fiscal and monetary policies as well as other policy strategies 4.1 Financial policy response Real GDP level with and without fscal stimulus (seasonally adjusted) in Australia, September 2008–December 2009 (A$ billions) Source: Author’s analysis of ABS, Australian Treasury and CCG data
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4. Evaluating fiscal and monetary policies as well as other policy strategies 4.2 Monetary policy Providing loans or make direct purchases to support certain markets Tool 2 the use of guarantees to stabilise markets, support banks in raising debt and to avoid a run on the banking system Tool 3 Providing extended opportunities for the banks to borrow from the central bank Tool 1 Supporting Economic Growth
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Good fortune, independent of Australian action A better starting position Better financial regulation in the years preceding the crisis 5. Impacts of other factors on Australia’s success
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Questions and Discussion
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