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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