That is $130B in AUD
Australia’s bundle is financing wages and means the administration will pay wage endowments of A$1500 every other week. It’s identical to 70% of the middle-wage and can be paid for a half year.
Nations have progressively moved to plans like this that expect to keep individuals ‘utilized’. The reasoning is that it will permit individuals to keep on adding to their working environment here and there. It will likewise permit organizations to bit by bit increase as the infection dies down.
Maybe, in particular, laborers will keep on feeling a connection to their employments and will profit by that feeling of steadiness.
All out Australian spending on COVID-19 is currently A$320B, which is 16.4% of GDP. That is an eye-watering number.
The national bank today said GDP is down 2.8% up until this point.