MORE than 10.6 million Australians will receive cash bonuses under a $42b Government plan to boost the economy.

As the Reserve Bank prepares to announce another cut in official interest rates this afternoon, the Government has released details of its plan to support up to 90,000 jobs. It also revealed a $22.4 billion fiscal budget deficit will blow out to $33.3 billion by 2009-10.

Under the economic stimulus package:
FROM March, families eligible for Family Tax Benefit Part A will receive a $950 Back to School Bonus for each eligible child.One-off $950 payments will also be made to: AROUND 1.5 million single-income families who receive Family Tax Benefit Part B; FARMERS and rural-dependent small business owners receiving exceptional circumstances assistance;YOUTH Allowance, Austudy, Abstudy and Education Entry Payment recipients;FROM April, workers earning up to and including $80,000 will get a $950 tax bonus;THOSE earning $80,000 - $90,000 will get $650;PEOPLE earning between $90,000 - $100,000 will receive $300.

The Government will also: INSTALL free ceiling insulation in 2.7 million homes;CONSTRUCT 20,000 public and social housing dwellings and 802 Defence houses;DOUBLE the rebate to landlords who install insulation in rental properties to $1000 INCREASE the Solar Hot Water Rebate from $1000 to $1600;SPEND $850 million on fixing roads, building boom gates for rail crossings and building community infrastructure such as town halls, libraries and sport centres.

Schools will also benefit: ALL 9540 Australian schools will receive up to $200,000 for maintenance and building works; EVERY primary, special and combined Prep - Year 12 school will receive money for large-scale infrastructure such as libraries and multi-purpose halls;ABOUT 500 new science laboratories and language learning centres will be constructed in high schools.Meanwhile, businesses will be eligible for a share of $2.7 billion worth of investment tax breaks. Prime Minister Kevin Rudd and Treasurer Wayne Swan will hold a press conference this afternoon to discuss the plan and the budget and economic outlook.

Lan's remarks left the door open for such a plan in the future but he did not divulge what is under consideration

“There are other policy tools that are being discussed that are still in the pipeline,” Chinese Finance Minister Lan said, adding that there is “ample room” in the budget

There's a lot to sort out in Libya's post-Gadhafi era, but there should be good news for the American consumer.

Coal country Sen. Robert Byrd is crowing about $4 billion he steered towards the false hype that is "clean coal" in the Senate version of the economic stimulus

Hopes are raised in drought-stricken towns that the Federal Government is on the cusp of delivering a stimulus package, with local mayors urging a generous spend.

In response to the ongoing COVID-19 pandemic, the US government brought about a collection of fiscal stimulus measures: the 2020 CARES Act. Among other provisions, this Act directed cash payments to households. We analyze households’ spending responses using high-frequency transaction data. We also explore heterogeneity by income levels, recent income declines, and liquidity. We find that households respond rapidly to receipt of stimulus payments, with spending increasing by $0.25-$0.35 per dollar of stimulus during the first 10 days. Households with lower incomes, greater income drops, and lower levels of liquidity display stronger responses. Liquidity plays the most important role, with no observed spending response for households with high levels of bank account balances. Relative to the effects of previous economic stimulus programs in 2001 and 2008, we see much smaller increases in durables spending and larger increases in spending on food, likely reflecting the impact of shelter-in-place orders and supply disruptions. We hope that our results inform the current debate about appropriate policy measures.

Long-term interest rates have remained low despite a surge in the issuance of sovereign debt to mitigate the economic impact of the pandemic.

Long-term interest rates have remained low despite a surge in the issuance of sovereign debt to mitigate the economic impact of the pandemic.

PM Narendra Modi, who held discussions with Amit Shah and Nirmala Sitharaman, on Friday held meetings with different ministries including civil aviation, labour and power.