Member for Riverina and Deputy Prime Minister Michael McCormack has welcomed the Australian Government’s $17.6 billion economic stimulus package, saying it will help keep rural and regional businesses open and people in jobs during the coronavirus crisis.
“I’m particularly pleased $1 billion has been budgeted to support regions and communities which have been disproportionately affected by the economic head-winds the coronavirus has created, including those heavily reliant on industries such as tourism, agriculture and education,” Mr McCormack said.
“Tourism, agriculture and education are three important pillars of the Riverina and Central West economy and we need to back them all the way.” Mr McCormack also welcomed the strong emphasis on supporting small and medium businesses, keeping apprentices and trainees in jobs and household stimulus payments which will benefit the wider community.
The package has four parts:
• Supporting business investment.
• Providing cash flow assistance to help small and medium sized business to stay in business and keep their employees in jobs.
• Targeted support for the most severely affected sectors, regions and communities.
• Household stimulus payments which will benefit the wider economy.
The one off payment to pensioners and those on Newstart should come as a huge relief to those who are inevitably feeling the pressure of poverty, pressure that is exacerbated by panic shopping and hoarding pantry items which has significantly reduced the amount of basic staples that socio-economically disadvantaged people often rely on.