Befekir Kebede

Rudd's $40 billion injection is 'Kevin sent'!

WE'RE in the money!

The Federal Government's second economic stimulus package will see more than $40 billion injected into the economy from as early as next month, and Coffs Coast residents will make out like bandits.

Low- and middle-income earners will benefit from cash handouts of up to $950, families might reap several thousands of dollars in bonuses set aside for parents with school children, and farmers facing hardship will have cash in their pockets from March.

Coffs Coast primary schools will receive up to $200,000 each for maintenance works, while almost $15 billion has been set aside for infrastructure projects such as libraries, science laboratories and language centres in primary and secondary schools.

Public and Defence housing will be boosted by the addition of 20,000 houses and the upgrading of 2500 homes, while free ceiling insulation will be rolled out to almost 3 million homes, a move the government claims will cut $200 a year off energy bills and reduce greenhouse gas emissions by 50 million tonnes by 2020.

Prime Minister Kevin Rudd said this latest stimulus package is designed to protect 90,000 jobs over the next two years.

“The challenge that we have faced is what measure assists in providing necessary fiscal stimulus to give us a much greater prospect of generating positive growth,” Mr Rudd said.

“This plan is part of our strategy to see Australia through this economic crisis, a crisis not of Australia's making.”

Member for Cowper, Luke Hartsuyker, declined to comment on the stimulus package prior to a Shadow Cabinet meeting that has held late last night.

WHERE THE CASH WILL GO

Primary schools $200,000 each

School maintenance $14.7b

Tax bonus $300-$950

Cash…single-income families, farmers facing hardship, students, unemployed returning to study, parents with children at school $950

Solar hot water rebate $600

Infrastructure and Roads $890 million

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