$10bn stimulus package: Aged care the big winner

The aged care sector and small businesses are expected to be the big winners in the Morrison Government’s coronavirus stimulus package, as the final details of the multi-billion dollar plan are finalised.

Health and aged care will receive hundreds of millions in extra funding under the stimulus package, according to  Sky News  Political Editor Andrew Clennell.

“The package will include hundreds of millions for health and aged care, I can reveal. Nursing homes are helped out in terms of dealing with the crisis; GPs are helped in terms of them dealing with the crisis, in terms of screening and in terms of care in the community,” Mr Clennell said.

“We have already seen a commitment for a billion dollars for health and now we see this extra of hundreds of millions for the aged care and health sector.”

He also revealed that the government’s plan includes slashing export costs temporarily and giving cash payments to small businesses.

“There will certainly be cash payments, I am told, to small businesses,” said Mr Clennell.

“As I understand it the committee was told there is an expectation of this crisis lasting around six months before a bounce back. That it was the government is planning for at the moment.”

There is also speculation as to whether pensioners and Newstart recipients will receive cash payments along with small businesses.

Appearing at the  Australian Financial Review  Business Summitt in Sydney this morning, Morrison pleaded for businesses to support their staff and show “patriotism” as the impact of coronavirus hits Australia’s economy.

He said it was the responsibility of all Australians to help move the country forward, describing it as “one of those national interest moments”.

“Whatever you thought 2020 was going to be about, think again,” he said.

“We now have one goal together this year – to protect the health, the well being, and livelihoods of Australians through this global crisis, and to ensure that when the recovery comes – and it will – we are well positioned to bounce back strongly on the other side.”