Source: Australian Government.
The Government’s Economic Recovery Plan for Australia will rebuild our economy, create jobs and secure Australia’s future.
The 2020-21 Budget commits further response and recovery support, bringing the Government’s overall support to $507 billion, including $257 billion in direct economic support.
The Government’s response continues to be temporary and well-targeted, use existing delivery mechanisms where possible, and proportionate to the shock and its impact on the economy.
Our economic recovery plan for Australia is focused on growing the economy so Australia can create jobs, increase economic resilience and create a more competitive and income-generating economy.
Our plan is also reflected through the revised Economic and Fiscal Strategy, firmly setting our focus on driving the economic recovery to strengthen the budget position in the near term, then stabilising and reducing debt as a share of the economy over the medium term.
Australians can be confident that the Government will ensure that Australia emerges from the COVID-19 recession in a strong position.