Australia renders stimulus package as pandemic drags construction sector

04.06.2020 - Korneychuk Evgeniya
Australia renders stimulus package as pandemic drags construction sector

 Australia is set to launch its fourth economic stimulus package aimed at providing eligible residents the opportunity to renovate their homes. The scheme was announced by Prime Minister Scott Morrison on Thursday as the country attempts to salvage the virus-beaten construction sector.

Eligible residents will receive a total amount of A$25,000 ($17,323) from the package worth A$680 million ($471 million). The land down under is set to implement this scheme called HomeBuilder in a bid to revive the country’s economy suffering from its first recession in 29 years.

However, the scheme has strict requirements. Eligible recipients will have to earn less than A$125,000 if they are single and A$200,000 if they are a couple. This includes restrictions on house values while requiring recipients to have a total of A$150,000 spending.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?