NationBuilding-EconomicStimulusPlanProgressReport.docVIP

 978-1-921385-92-6 Commonwealth Coordinator-General’s Progress Report to 31 December 2009 (Hardcopy) 978-1-921385-93-3 Commonwealth Coordinator-General’s Progress Report to 31 December 2009 (PDF) 978-1-921385-94-0 Commonwealth Coordinator-General’s Progress Report to 31 December 2009 (RTF) ? Commonwealth of Australia 2010 This work is copyright. Apart from any use as permitted under the Copyright Act 1968, no part may be reproduced by any process without prior written permission from the Commonwealth. Requests and inquiries concerning reproduction and rights should be addressed to the Commonwealth Copyright Administration, Attorney-General’s Department, Robert Garran Offices, National Circuit, Barton ACT 2600 or posted at .au/cca .au/cca Message from the Minister Assisting the Prime Minister for Government Service Delivery, Senator Mark Arbib Twelve months ago the Prime Minister announced the $42?billion Nation Building and Jobs Plan (the Plan) to help cushion the economy from the worst effects of the global recession. The Plan was developed as the global financial crisis took hold and its full extent became clear to Government. The Plan built on earlier Australian Government Economic Security Strategy and Nation Building packages. At that time, world policy makers were confronted with a crisis that threatened to engulf the global economy. Without intervention by Government, it is estimated that the economy would have contracted and the unemployment rate was predicted to rise to 8? per cent – meaning hundreds of thousands of Australians were at risk of losing their jobs, creating a vicious downward spiral in our economy. The Plan was a bold and decisive strategy to arrest the slowdown in the economy, cushion Australia from the global recession and build lasting infrastructure for Australia’s future. It brought Federal, State and local governments together, along with businesses, unions and community organisations, in a common effort to protect Australian jobs, b