Release: ScoMo’s stimulus package not worth the human cost

Release: ScoMo’s stimulus package not worth the human cost

The Australian Taxpayers’ Alliance, the nation's largest grassroots advocacy group representing taxpayers, today analysed Scott Morrison’s $22.9 billion economic stimulus package. The plan includes $750 cash payments to pensioners and welfare recipients as well as subsidies for impacted businesses and additional tax write offs. 

“While the asset write offs and Scomo’s choice to use existing infrastructure will save taxpayers untold millions, the cash payments are, quite simply, a bad idea,” said ATA Policy Director Emilie Dye. 

“Doctors have repeatedly warned that coronavirus puts the elderly most at risk. Yet, ScoMo has recommended our most vulnerable Australians, pensioners and people over the age of 65, take his $750 cash payments and go to shopping centers where they risk coming into contact with someone carrying coronavirus. That is not a cost Australians should be forced to pay.”

“Australia must remember, this is a health crisis with economic implications. The health and safety of Australians comes first. So if you are elderly and receive a cash payment, consider staying home and going shopping after the virus passes.”

“With supply shortages infecting the economy, our leaders need to look at taxes and regulations on business in Australia. These policies have squashed our domestic production and left Australia more vulnerable to the economic impacts of the coronavirus. 

“By expanding the asset tax write off from $30,000 to $150,000 the stimulus package both helps struggling businesses and incentivises consumption. More policies like this would give the Australian the solid footing it needs to fight off future crises. 

“The government has learned from its mistakes and so chose to use existing infrastructure instead of creating new programs and towers of bureaucratic paperwork. Bureaucracy and bad regulation themselves carry an economic cost. 

“Once this crisis passes, the government should work to strengthen our domestic economy through cutting taxes and unnecessary red tape. Just as bandaids don’t shield Australians from coronavirus, subsidies do not provide the long term sustainable growth our country’s needs.”