Shipping to Australia Blog

One more reason for moving to Australia. Unlike most other economies Australia’s remains largely recession proof and even grew strongly in 2009. Even so, the Australian government has been taking precautions and implemented an economic stimulus plan. The ruling Labor government has put in place A$67 billion in short- and long-term economic stimulus since the collapse of Lehman Brothers a year ago.

The question is how long will the government intervene?

Australian Treasurer Wayne Swan recently renewed calls for the economic stimulus to remain in place, saying significant threats remain to the global economy and warning that unemployment is set to rise. “We must keep the stimulus in place. It supports employment across the board, it supports confidence in the economy as we move forward,” he said.

Opposition leader Malcolm Turnbull, opposes the stimulus package and says there are other reasons why Australia’s economy has remained afloat.

The buoyancy of the economy has prompted the Reserve Bank of Australia to signal that interest rates will eventually need to rise, while the government is now under pressure to start improving its fiscal balance. “We will apply those fiscal rules to bring the budget back to surplus as quickly as we possibly can,” Swan said

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