The Rudd government signed off on a $42 billion dollar stimulus package in February 2009 with hopes of reviving and encouraging long term economic growth in Australia.
In the wake of a global recession, Australian tax payers will be getting a tax bonus payment from the government to help struggling low to middle income earners as well as encourage spending to get the economy flowing again. It is no surprise that everyone has decreased if not stopped spending with massive retrenchments happening globally and nationwide. Job uncertainty is definitely in the fore front of our minds.
New businesses are slow to come by and even managers have strict budgets to follow and are reluctant on committing to long term spending. This downward spiral is expected to continue throughout 2009 and many fear the worst is yet to come.
