Six million Australians to get immediate $750 coronavirus stimulus payments

[ancianita]

Sydney Morning Herald

Businesses, welfare recipients and tourism operators will get $17.6 billion in the first stimulus measures since the global financial crisis as the Morrison government plunges the budget back into deficit to try and avoid a recession.

Up to 6.5 million people on government benefits, including pensioners, the unemployed and those on family welfare payments will get up to $750 each in cash payments in an attempt to drive consumers back to the shops. The stimulus payments will cost $4.6 billion and will be paid into bank accounts from March 31.

Prime Minister Scott Morrison said casual workers, who may miss shifts because they contract coronavirus or are asked to self isolate, will have access to sickness payments through the welfare system and waiting times abolished.

https://www.smh.com.au/politics/federal/six-million-australians-to-get-immediate-750-coronavirus-stimulus-payments-20200312-p549b2.html?fbclid=IwAR2p7Wwi0yOeueApKNIFrSpVI8nTJdi8dVu2QTxi3uIHPDec1BhevVY_Lq8

I'm happy for this. My son's family live there, including our elderly in-laws.

As our son says, "Everyone benefits when we look after each other. Simple, right? Not sure why this sentiment has gone missing in the USA."

[at140]

1. Did Australia have a surplus in their treasury or

did Australia borrow the money and increase their national debt for that payment?

[ancianita]

2. Don't know. I'll have to ask my son about that.

Australia taxes its citizens at a high rate so that they get free lifelong health care and university education, if they qualify.

They are also required to vote by law, and get increasing fines if they don't.

[MoonlitKnight]

3. When the government can borrow

At essentially zero or negative interest rates, it’s a no brainer. It’s like borrowing $1000 and having to pay it back in 10 years at an inflation adjusted amount of $900.

[at140]

6. You are right about that but there never are winners on both side of the coin

so who loses the $100? Obviously it is the person who buys government bonds.

[durablend]

4. Simple answer

"As our son says, "Everyone benefits when we look after each other. Simple, right? Not sure why this sentiment has gone missing in the USA."

Because the "other" might get some "freebies" and we simply can't have that.

[jimfields33]

5. That's out of 24 million. I guess they will give more later