Australia Stimulates, Will Vaccinate Citizens for Free

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We have worked hard with international counterparts to secure the vaccine for Australia.” –Treasurer Josh Frydenberg

Sunday, the Australian government said it will earmark an additional A$1.2-B ($859-M) in wage subsidies in the 2020/21 budget and that its program assumes there will be a coronavirus vaccine next year.

In the run up to the 6 October budget that will forecast a record deficit of about A$200-B, Treasurer Josh Frydenberg said a vaccine was a factor in his fiscal considerations.

The budget takes into account the possibility that is the case,” Mr. Frydenberg said when asked in a television interview whether the budget would be based on an assumption that a vaccine would be ready.

Australia’s A$2-T economy suffered its deepest decline on record in Q-2 as coronavirus curbs crippled business activity, and the government has sought to soften the blow this year with A$314-B of fiscal stimulus.

The government plans to roll out a coronavirus vaccine cost-free to citizens, expecting its 1st batches possibly in January.

Earlier Sunday, the government said the budget would include a wage subsidy aimed at creating up to 100,000 apprenticeships

Have a healthy week, Keep the Faith!

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