Cormann rules out Rudd-style cash splash to boost Australian economy as coronavirus bites

Package of stimulus measures due in ‘the next few weeks’, finance minister says

Australian households should not expect Kevin Rudd-style cash payments to stimulate the economy in the wake of coronavirus, Mathias Cormann has warned.

The finance minister told Sky News on Friday that the government would focus on encouraging businesses to invest in and employ workers, appearing to rule out cash payments to all individuals, although measures to help sections of the population such as pensioners are still on the table.

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from World news | The Guardian https://ift.tt/2TKupV1