Australian Budget To Contain Further Stimulus Measures

by Mary Swire, Tax-News.com, Hong Kong

25 March 2009

Australian Treasurer Wayne Swan has spoken of the government's plan to include further fiscal stimulus measures in the country's forthcoming Budget.

Swan - who made the announcement during an address to the Sydney Institute - explained that the government is preparing to deliver a "tough" Budget in two months' time, which would focus on bolstering the Australian economy against recession.

Swan stated: "It will add to the steps already taken to support demand, support jobs, support growth, and build the schools, roads and homes the nation needs."

He went on to explain that the Budget would "be the next step in the Government's coordinated response to the global recession," adding: "Our challenge will be to continue to stimulate the economy and continue to invest in the future, while working under the constraints imposed by collapsing revenue and the global recession."

"The Budget will be a strategically-focused document that will aim to maintain demand, support jobs, provide Australians with secure and sustainable retirement incomes, and lay the building blocks of the post-crisis economy in crucial areas like critical economic infrastructure and the Education Revolution", he further remarked.

Swan has yet to reveal which areas of the Budget the government will take a tougher stance on, although he has assured that it will "meet the priorities" outlined previously.

Recommended