09 March 2009

Australia best place to ride out recession: Federal Treasurer

According to Australia's Federal Treasurer Wayne Swan, Australia is the best place to ride out the global economic recession.

Mr Swan is confident that Australia's early and premeditated measures to ward off the global recession in Australia has given the Australian economy a better chance of withstanding the damaging economic tidal wave that started in America. 

According to latest figures, America is experiencing its highest unemployment figures for 26 years, taking the total job loss to 4.4 million.

"We have seen overnight further substantial job losses in the United States, something like a further 650,000 job losses," Nine News quoted him as saying.

"This demonstrates the importance of economic stimulus and the importance of governments acting early," Mr Swan said.

Three quarters of the Government's latest $42 billion stimulus package is to be spent directly on infrastructure projects including energy and efficiency, and the biggest school modernisation project in Australia's history.

"If there was any country you'd want to be in, in the middle of this global recession, it's Australia."

People emigrating to Australia – and escaping the northern hemisphere's economic demise – are sure to come out winners by choosing Australia as their migration destination; interest rates are at the lowest they have been in years, house prices are dropping and the Government is allowing temporary increases in grants for first-home buyers. 

People looking to move to Australia during these times will be the winners, snatching up bargains and low-interest home loans before the forecasted recovery gets into full-swing. 

To add to this, Senator Chris Evans, Minister for Immigration and Citizenship, has indicated that his department would retain its record levels of migration until the release of next year's Budget.  Currently, the Department of Immigration and Citizenship (DIAC) are trying to reach a target of 133,500 skilled visas before June 2009. 

While the global recession starts digging its heels in throughout the UK, US and elsewhere, Australia is likely to become an attractive destination for prospective migrants.

The Australian Visa Bureau is an independent consulting company specialising in helping people with emigrating to Australia.

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