Third round of stimulus likely as Australia moves closer to lockdown

- March 27, 2020 < 1 MIN READ

The national cabinet meets again today with discussions on a moratorium on evictions or a freezing of rent likely to be a hot topic as more and more Australians find themselves out of work and businesses are forced to close.

The ABC is also reporting that the Federal Government is looking at a third round of support measures to assist the nation through the pandemic. To date, the government has already passed $84 billion worth of support packages for small, medium-sized business, and a raft of welfare measures to assist those who’ve lost their jobs due to the coronavirus crisis. Pundits are tipping a freeze on debt for small businesses will also be announced so that they could resume operations once the crisis dissipates.

Further to this, the G20 held an emergency meeting via videoconference last night with the PM amongst the world leaders taking part in the call. During the meeting, world leaders have agreed to a 5 trillion dollar boost to the global economy in an effort to stem the fallout from the pandemic.

The NSW government will also release the details of a second coronavirus stimulus package today with funds earmarked for employing extra workers at state services such as Service NSW as well a more tax deferrals for certain businesses.

The PM is expected to hold a press conference late this afternoon following the cabinet meeting.

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