Second stimulus package discussion

gfresh · 3 February 2009

A nation-building package to support jobs and growth while the global financial crisis continues to hit the economy will be released by the Federal Government today.

Earlier this morning the Government confirmed the package, expected to be in the billions of dollars, would include free ceiling insulation for more than 2.5 million homes.

The Government says the move will save families about $200 a year on their energy bills and create jobs for people to install the insulation.

The scheme will be available for 2.2 million owner-occupied homes and another 500,000 rental properties.

Federal Treasurer Wayne Swan says the package will invest in economic growth.

"This plan will strike the right balance between supporting jobs now and investing in critical nation-building projects for the future and investing in critical nation-building projects for the future," he said.

http://www.abc.net.au/news/stories/2009/02/03/2480653.htm

A curious one... I can see the general idea, but is it really going to be that effective in practice?

How many older homes can simply be slapped with insulation and it be effective without a proper energy-efficient design?

Wouldn't anything newer already have suitable insulation?

What about older houses with asbestos roofing which is common in some states? surely that throws a major spanner in things..

Will it really create jobs out of thin air? Who is qualified to install the stuff?

How's this going to work in multi-level apartment blocks?

Will landlords be stuffed helping out their tenants simply for the sake of it?

Seems pretty hair-brained scheme to me..

johenmo · 3 February 2009

Re: So... insulation handout

It'll work. Kev said so.

aleckara · 3 February 2009

Re: So... insulation handout

It needs a lot more thought I agree. But the general idea is one I agree with. Rather than spending on plasma TV's we are at least buying locally infrastructure that extends the life of the physical wealth we have in a deflationary environment.

Asbestos housing is always a concern. Too many houses were built with the stuff. I can tell you know fibro houses are probably the main reason why we don't have enough power for all the air conditioners in areas. I know that in Western Sydney they are trying to promote solar panels www.blacktownsolarcity.com to offset the extra air con that all the fibro houses need especially when it gets to 40C.

white_goodman · 3 February 2009

Re: So... insulation handout

so so stupid, my dads a roofer and these type jobs are reserved for builders who arent much crop...

the margin on just doing insulation is not enough for people to go hire employees...now if everyone got roofing and guttering it might be something but that would be too expensive... seems pretty hair brained to me....

why not just provide stimulus in the form of reduced SME and medium sized business tax?

nikemi · 3 February 2009

Re: So... insulation handout

johenmo said:
It'll work. Kev said so.

Yeah,

It will work for Kevin, to score some points with the voters that are getting cheesed of about him not living up to his climate change election promises, as for the economy, as far as i am aware the insulation industry is not the one primarily suffering.

cuttlefish · 3 February 2009

Re: So... insulation handout

I don't understand the detail, but on the surface it seems like the sort of demented highbrow theoretical stuff you'd expect from a labour government and from someone like Rudd.

I'd far prefer to see funding for education, or for innovation/R&D, or for infrastructure that would facilitate growth (e.g. transport upgrades, port upgrades, health/services upgrades). This won't stimulate growth in any meaningful way that I can see. I'm sure there's far better things to spend a billion dollars on.

Nyden · 3 February 2009

Re: So... insulation handout

I'm just eagerly awaiting Rudd's announcement. The basics of the package have already been announced, but I just want to know if I get anything this time! I'll be fuming if I don't :angry:

Who wants to protest with me if I miss out? :

cuttlefish · 3 February 2009

Re: So... insulation handout

Nyden said:
but I just want to know if I get anything this time! I'll be fuming if I don't :angry:

Well just make sure you don't give off too many carbon emissions with all that fuming!

sam76 · 3 February 2009

Re: So... insulation handout

Why can't the nation build a massive water pipe from up north to down south?

cuttlefish · 3 February 2009

Re: So... insulation handout

sam76 said:
Why can't the nation build a massive water pipe from up north to down south?

Back in the 80's I seem to recall some politicians touting a scheme to re-direct our rivers to run inland (part of the Qld national party I'm sure ). (though who knows maybe there's something in it - there's a fair volume of fresh water dumped into the see out of the northern part of Australia during a full wet season - perhaps it is possible to redirect some of it elsewhere).

Water supply/retention and soil erosion/salination are definitely big issues that reduce the productivity of our farmable land and also impact industry and individuals - so spending on schemes to tackle this seems like a sensible area to direct money to me.

gfresh · 3 February 2009

So... 2nd stimulus package announced

Govt unveils $42b stimulus

February 3, 2009 - 1:10PM

The Rudd Government will pour an extra $42 billion into the economy over the next four years in its latest bid to head off a recession. Even so, the job rate will climb to 7% by next year.

The extra spending was contained in a package of measures announced today by Prime Minister Kevin Rudd and Treasurer Wayne Swan, as the Government battles to adjust its policies and forecasts fast enough to cope with the rapidly deteriorating global economy. It brings the total stimulus efforts by the Government to $88.7 billion.

The Government also halved its 2008/09 growth forecast for the economy to 1% from a November forecast of 2%. Today's spending package includes $28.8 billion for infrastructure, schools and housing, as well as $12.7 billion cash payments for low and mid-income earners to be paid in March, 2009.

Government has announced it's 2nd stimulus package.

http://business.theage.com.au/business/govt-unveils-42b-stimulus-20090203-7w6v.html

Some of seems to be in the right direction towards schools, some public housing and other infrastructure.

Don't really approve of the cash handouts (what did they do last time?), although looks like I collect $950.. I guess that will appease some of the "but why don't I get anything" out there, but for me I'd rather it went towards something more productive.

CAB SAV · 3 February 2009

Re: So... insulation handout

Be more efficient to ban building houses without eaves. That Tuscan look is not practicle in OZ.

prawn_86 · 3 February 2009

Re: So... insulation handout

Nyden said:
I'm just eagerly awaiting Rudd's announcement. The basics of the package have already been announced, but I just want to know if I get anything this time! I'll be fuming if I don't :angry:

Who wants to protest with me if I miss out? :

Im with you Nyden!

I tried to watch but i just cant stand watching politicians sprout crap.

Slightly off topic, but Krudd just admitted we no longer have a free maket:

(paraphrasing) "we can either let the free market play out, or we can act" So what type of market do we have, aside from an inefficient one?

Nyden · 3 February 2009

Re: So... insulation handout

prawn_86 said:
Im with you Nyden!

I tried to watch but i just cant stand watching politicians sprout crap.

Slightly off topic, but Krudd just admitted we no longer have a free maket:

(paraphrasing) "we can either let the free market play out, or we can act" So what type of market do we have, aside from an inefficient one?

Well, I listened to it - but I must have faded out? I didn't even hear him mention the $950! Straight after it though, I saw it written across the bottom of the screen, indicating that it was low income earners. Does this mean actual individual people, or only bloody families

http://au.biz.yahoo.com/090203/31/24dnc.html

A cash payment of $950 will also be given to single-income families, farmers facing hardship, parents with children heading back to school and students and unemployed people returning to study.

Perhaps this means I finally get something! Into the bank it goes

prawn_86 · 3 February 2009

Re: So... 2nd stimulus package announced

gfresh said:
Don't really approve of the cash handouts (what did they do last time?), although looks like I collect $950.. I guess that will appease some of the "but why don't I get anything" out there, but for me I'd rather it went towards something more productive.

Hmm i couldnt tell from that article if students get the handout. We earn under 100k so i would assume so?

prawn_86 · 3 February 2009

Re: So... insulation handout

**Mod note - 2 threads merged into one so we can keep all 2nd stimulus package discussions here**

professor_frink · 3 February 2009

Re: So... 2nd stimulus package announced

once again I miss out

Damn you kruddy I want some free money!!!!!!

prawn_86 · 3 February 2009

Re: So... 2nd stimulus package announced

prawn_86 said:
Hmm i couldnt tell from that article if students get the handout. We earn under 100k so i would assume so?

The Government will also provide a one-off $950 training and learning bonus for eligible students and people outside of the workforce returning to study to help with the costs of education and training.

Whats an eligible student? One on youth allowance?

Nyden · 3 February 2009

Re: So... 2nd stimulus package announced

prawn_86 said:
Whats an eligible student? One on youth allowance?

Are the cash payments, and bonuses seperate from eachother? That would be fantastic, for me at least.

I'm getting ahead of myself here, I can just see them coming out saying it's only for dependant students ... real clever, just like last time. Give payments to students who have less expenditure!

Beej · 3 February 2009

Re: So... insulation handout

cuttlefish said:
Back in the 80's I seem to recall some politicians touting a scheme to re-direct our rivers to run inland (part of the Qld national party I'm sure ).

Well this exact thing has been done before in the 50s! Heard of a little thing called the Snowy Mountains Scheme????

Cheers,

Beej

Second stimulus package discussion

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