Many commentators have labeled the December 08 $10.4B cash stimulus handout as useless, including Gerry Harvey who said
“In retrospect now you say to yourself: ‘was that a real good idea, that was 10.4 billion, that’s a lot of money’”
It definitely had an impact on retail sales, but if most of those items were imported, it may have just cleared the channel a bit and helped the Chinese economy.
Well we have a more comprehensive stimulus plan this time from the Government. Several cash handouts and some Tax benefits for business that should definitely give a boost to demand.
Have a look at The Age summary for more details.
Tim
Posted under Uncategorized
This post was written by Tim on February 3, 2009
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