LISTEN
Watch
on air now
Advertisement
Advertisement
Advertisement

The government to spend billions to stave off recession

Janine Perrett
Article image for The government to spend billions to stave off recession

Head of Treasury Steven Kennedy addressed parliament today with his forecast for what lies ahead in the next quarter.

Economic commentator Shane Wright tells Janine Perrett the government is preparing to open its chequebook to pump billions in stimulus into the economy.

Mr Wright says the stimulus will come next week and tips it to be around $5-billion.

“It gets down to what’s the aim… do you want to be the government that delivers Australia’s first recession since 1991?

“You have to come up with measures to get growth going in the June quarter.”

We can expect to see investment allowances for business, possible cash support for businesses to keep on staff, money for self-funded retirees in and around deeming, and support into the state health systems if we see a coronavirus pandemic.

Click PLAY below to hear the full interview

Image: Getty / jax10289

Janine Perrett
Advertisement