Federal Government stimulus package 2.0 to get us through
Media Release: 22 March 2020
Agriculture, Drought and Emergency Management Minister David Littleproud says the Federal Government’s second stimulus package is about confidence, cash flow and the community.
$66.1 billion in more support measures are on their way including wage and rental relief for businesses and cash for affected workers. It brings the total amount of Federal support to $189 billion.
“We are building the bridge to recovery together and we’ll get through this together,” Minister Littleproud said.
“Agriculture, fisheries and forestry will get a boost from the extra support under this second package designed to cushion the economic impact and help build a bridge to recovery.
“The Government will provide up to $100,000 to eligible small and medium sized businesses, so they can stay open, pay their bills and keep staff.
“These measures will flow into regional and rural communities from Wagin in the WA Wheat Belt, to Warwick in my home state of Queensland, and everywhere in between.
“It’s about shoring up confidence, keeping the cash flowing and letting communities know – especially farm communities – that we have their backs.
“The ag sector is the foundation stone of our food security and it’s critical the Federal Government is with them as it recovers from drought, bushfires and now the coronavirus.
“We ask the banks to work with us in supporting our farmers by passing on this week’s interest rate cuts in full.”
Today’s measures complement the $17.6 billion package announced last week which included a $1 billion regional and community fund to support industries impacted by coronavirus.
“Take advantage of these measures to grow your business, to increase production and keep our regional and rural communities strong.”