18 February 2009

Stimulus package to create 90,000 Australian jobs

The Senate has approved Prime Minister Kevin Rudd's stimulus package to inject investment into crucial aspects of the Australian economy.

According to Bloomberg, the package is going to keep the northern hemisphere's recession from striking Australia, by increasing consumer spending and investing in infrastructure building such as schools, roads and hospitals.  Retail, material and home building giants will also receive a booster from the government, so that the major companies do not have to downsize majorly.  Consumers also win in the package, whereby low to middle-income workers would receive as much as $900.

"It’s a short, sharp shock to boost spending and kick- start activity," said Craig James, senior economist at the Commonwealth Bank.  "It’s not just handouts to individuals, it’s the fact you’re spreading dollars throughout the economy, and that gives you a multiplier effect."

The Government predicts that the package would not only provide a steadfast foundation for fighting off the recession, but would create 90,000 jobs.  Further, a recent report from the Department of Immigration and Citizenship (DIAC) said that the Australian migration programme is still seeking thousands of skilled workers to meet this financial year's target.

As it stands, the Minister for Immigration and Citizenship Chris Evans has promised he would keep the skilled migration quota at its record levels of 133,000, until the Government releases the 2009-10 Budget.

Australia receives tens of thousands of British migrants emigrating to Australia every year who are reported to be in search of a better, sunnier lifestyle.  It is expected that during the UK recession this number would increase, particularly while Australia is showing signs of resilience against the recession and the Government is doing its best to stimulate the economy.  Fortunately, although the Australian economy is experiencing higher unemployment rates, there are still skills gaps in the workforce and DIAC is working hard to get these filled by recruiting overseas skilled workers to move to Australia.

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