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Flat White

Revealed: the true cost of our stimulus spending

7 May 2020

1:34 PM

7 May 2020

1:34 PM

Relative to GDP Australian government spending to address COVID-19 has been among the highest in the world.  

The Morrison government seems pleased to have been a world leader in mortgaging the future to combat the crisis.  Its package, totalling $320 billion, comprises five elements: 

  • The PM’s initially announced health spending $2.4 billion 
  • JobKeeper and JobSeeker business support $168.78 billion 
  • Credit support$125 billion 
  • Access to superannuation$0.876

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