How Did Kevin Rudd Improve Australian Economy

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Today I will be talking about what contribution Kevin Rudd made to Australia’s post-war development, such as his Global Financial Crisis stimulus package, which contained 5 initiatives worth 10.4 billion, gave boosts to Pensions, low income earners, more training places, creation of infrastructure plans and assistance to first home buyers. During the Global Financial Crisis (GFC) Kevin Rudd announced an “economic security package” worth $10.4 billion with 5 initiatives. Speaking at a joint press conference with the Treasurer, Wayne Swan, the Prime Minister, Kevin Rudd, said that from December 8, single pensioners will receive a lump sum payment of $1,400 in December. Couples will receive $2,100. This payment will carry pensioners through until the next budget when the government’s review of pension arrangements will be announced. This measure is worth $4.8 billion. There will be a $3.9 billion package of assistance to low and middle income earners. Around 3.8 million dependent children and children in various forms of care will receive a one-off payment of $1,000 on December 8.The government will double the first home buyers grant to $14,000. First home buyers who build a new house will receive $21,000, in an attempt to stimulate the construction industry. This measure is worth $1.5 billion. The government will spend $187 million to provide 56,000 training places in 2008-09. - AustralianPolitics, October 14, 2008

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