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Australians get stimulus handouts | Australians get stimulus handouts |
(about 3 hours later) | |
Australians have begun receiving bonus payments worth US$700 - the largest cash handouts in the country's history. | Australians have begun receiving bonus payments worth US$700 - the largest cash handouts in the country's history. |
The payments, aimed at protecting a flagging economy from the worst effects of a recession, will cost the government a total of $33bn. | The payments, aimed at protecting a flagging economy from the worst effects of a recession, will cost the government a total of $33bn. |
Recipients are being urged to spend the money to keep their fellow Australians in work. | Recipients are being urged to spend the money to keep their fellow Australians in work. |
A previous stimulus package aimed at pensioners and parents at the end of last year has been hailed a success. | A previous stimulus package aimed at pensioners and parents at the end of last year has been hailed a success. |
The government said a jump in retail sales had shown that the handout policy was working. | The government said a jump in retail sales had shown that the handout policy was working. |
About half of the Australian population will receive the new payments. | About half of the Australian population will receive the new payments. |
Ministers hope that giving cash to low- and middle-income workers, as well as families with schoolchildren, will help to revive the economy. | Ministers hope that giving cash to low- and middle-income workers, as well as families with schoolchildren, will help to revive the economy. |
Common good | Common good |
It is estimated that about a fifth of the cash bonuses so far have been spent on non-essential items, such as clothes and cosmetics. | It is estimated that about a fifth of the cash bonuses so far have been spent on non-essential items, such as clothes and cosmetics. |
Margy Osmond from the National Australian Retail Association says the money is offering some help to struggling businesses. | Margy Osmond from the National Australian Retail Association says the money is offering some help to struggling businesses. |
"We've already seen some impact from the stimulus package before Christmas," she said. | "We've already seen some impact from the stimulus package before Christmas," she said. |
Australia has fallen into recession following the collapse of the mining sector. | Australia has fallen into recession following the collapse of the mining sector. |
With unemployment expected to rise significantly, recipients of the government's money have been urged to spend it for the good of the nation. | With unemployment expected to rise significantly, recipients of the government's money have been urged to spend it for the good of the nation. |