In the midst of the global financial crisis the Australian government (in a nutshell) sent a cheque for $950 to (not quite) each Australian

(Kids - go and ask your parents what a cheque is)

  • 13 million Australians got the AUD 950 each
  • part of a 42bn package, much of the rest going to various infrastructure prjects

So far the Treasurer Josh Frydenberg has said any fiscal move will be focused on cash flow, investment and jobs … not duplicating the actions of the then govvmt in 2009.

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Its not to extreme to expect the virus impact on the Australian economy to hit very hard in Q1. We got 0.5% q/q growth in Q4 2019 … closer (much closer) to 0% for Q1 is not unreasonable, with the accompanying rise in unemployment.

Australia avoided a recession in the wake of the GFC (so far)