The economic fallout from the coronavirus is shaping as the biggest shock to the economy since the global financial crisis.
The Prime Minister has unveiled a stimulus package worth more than $17 billion in an effort to avert recession. Welfare recipients including the unemployed and pensioners will get a one-off cash payment of $750. Businesses will get bigger tax breaks and wage support for employees and apprentices.
The Morrison Government’s plan will draw inevitable comparisons to the Rudd Government in 2008, but the Prime Minister is keen to highlight the differences.
Here’s chief political correspondent Laura Tingle.
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