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Complete 7 pages APA formatted article: Billion National Stimulus Plan. The same is the case for the housing industry in general, which is also a major beneficiary of the National Stimulus Plan. A sig
Complete 7 pages APA formatted article: Billion National Stimulus Plan. The same is the case for the housing industry in general, which is also a major beneficiary of the National Stimulus Plan. A significant amount of $5.3 Billion is being released for Socialized Housing Projects which is spread for three years beginning 2009. After this, an additional $400 Million is allocated for the next following two years allocated for repair and maintenance of public dwellings. Included in this socialized housing is funding focused primarily on building around 800 homes for the families of the Defence Force. While this stimulus package assists the socialized housing industry to improve, the direct recipients of its output, benefit as well.
The transportation sector is also benefitting from the stimulus plan. New and improvements to roads and rails are budgeted at $2.3 Billion. This helps the construction industry in two ways. Firstly, an increase in the construction projects directly impact the industry and secondly, an improved rail and road system helps the industry transport its materials to the communities.
Part of the stimulus package is to stimulate sustainability, particularly in the aspect of renewable energy. Australians are encouraged to invest and try technologies that will reduce CO2 emissions and help the environment by providing tax breaks and cash incentives for trying the technologies. About $1.4 Billion has been released for rewarding families using the technologies.
Stevens (2010, p. 3) painted a reassuring picture of the Australian economy to the House of Representatives Committee on the Economy in his opening speech: that Australia is well poised to overcome the global financial crisis through renewed expansion. His speech mentions several steps that the economy took in order to keep its head above water. . One of the strategies did help influence the growth in the construction industry.
