Re: What's your Boredom level Today?
Originally Posted by
d00d
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government stimulus package ... is that what we* call state pension?
*we brits
No, it is two extra $750 payments to pensioners and welfare recipients on top of their normal pension to stimulate the economy.
The theory was that pensioners and dole bludgers would go out and spend the money rather than save it. Unfortunately events have caught up with them and they cannot go out to spend and there is nothing to spend it one because all the clubs and pubs are shut.
There have been three stimulus packages within the last few weeks plus one from the Reserve Bank
12 March – government announces a $17.6bn stimulus package including $4.76bn for
$750 payments to welfare recipients and $6.7bn for businesses for wage subsidies.
19 March – the Reserve Bank of Australia announces a $90bn three-year funding facility to help banks continue to lend to business, and the Morrison government contributes $15bn skewed to smaller banks and non-authorised deposit-taking institution lenders.
22 March – government announces a second major economic rescue package worth $66bn including a $550 coronavirus supplement to jobseeker payments (dole) and
a second $750 payment to welfare recipients.
30 March – government announces $130bn in the third support package, including a $1,500 fortnightly jobkeeper payment for employers to pass on to employees to keep them in work, and extending eligibility for jobseeker payments.