Stimulus package widely welcomed

13 Feb 2009, 7:06 pm   -   Source: AAP
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Plenty happy with stimulus package Unions, business and even cyclists are delighted the federal government's $42 billion stimulus package has passed parliament.

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Plenty happy with stimulus package Unions, business and even cyclists are delighted the federal government's $42 billion stimulus package has passed parliament.

Business groups said the Senate's decision to pass the package could not come soon enough.

The Australian Chamber of Commerce and Industry (ACCI) said it would improve business confidence and certainty.

Data released earlier this week showed business confidence is now weaker than during the 1990s recession.

"We believe the fiscal package, combined with monetary easing, is the best way to shield the economy from the worst aspects of the economic downturn," ACCI director of industry policy and economics Greg Evans told reporters in Canberra.

Australian Industry Group chief executive Heather Ridout said the senators had done the right thing in passing the package and would prove timely in lifting consumer and business spending.

"While senators were right to subject such a big package of measures to scrutiny, early passage of the bill was critical in terms of keeping up the momentum behind the announced package and building on the boost to household and business finances from the recent interest rate cuts," she said.

Independent senator Nick Xenophon, the final man the government had to win over to push its package through, won last minute concessions on fast-tracking money for the Murray-Darling Basin.

The Greens pushed for extra funds including $40 million for cycleways, money for heritage concerns and also $300 million for grass roots unemployment programs.

Unions said the package would defend jobs from the spiralling economic crisis.

"As a nation, we must do everything we can to save jobs and deal with the threat of rising unemployment," ACTU president Sharan Burrow said in a statement. "Working Australians are pleased that Senator Xenophon has decided to support the package."

The Australian Council of Social Service (ACOSS) said the $42 billion was urgently needed for those struggling to keep their home.

"Among the winners of the economic stimulus package are people struggling with housing costs, children needing better school facilities, and households wanting to reduce their carbon footprint," council chief executive Clare Martin said.

And even the Cycling Promotion Fund found reason to be pleased.

"The cycling sector has long been calling for increased funding in cycling infrastructure to help Australians fight climate change, the obesity epidemic, congestion and make our cities more liveable," the fund's spokesman Stephen Hodge said.

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