SYDNEY (Reuters) – Australia pledged billions in tax cuts and measures to boost jobs on Tuesday to help pull the economy out of its historic COVID-19 slump in a budget that tips the country into its deepest deficit on record.
Prime Minister Scott Morrison’s conservative government has unleashed A$300 billion in emergency stimulus to prop up growth this year, backpedalling on a previous promise to return the budget to surplus.
Treasurer Josh Frydenberg on Tuesday announced A$17.8 billion in personal tax cuts and A$5.2 billion in new programmes to boost employment in a recovery plan aimed at creating one million new jobs over the next four years.
Those measures are forecast to push the budget deficit out to a record A$213.7 billion, or 11% of gross domestic product, for the fiscal
Although no one single source of information covers all federal government grants, most federal agencies have some type of grant-making program. This article will help you become familiar with government grants by providing you with important federal government grant facts and grant writing tips.
Government Grant Facts
- In 2009, the American Recovery and Reinvestment Act – or Stimulus Package – injected a historic $463 Billion in additional grant funding into the grant pipeline.
- Typically, federal funding annually for grants is around $100 Billion, depending on who you talk to.
- Despite a decline in funding for social service, health, and welfare programs in the mid-to-late 1980s, over a 20-year period starting in 1980, the U.S. government funding for grants more than doubled, increasing from $40 to $90 billion.
- According to the Catalog of Federal Domestic Assistance, there are 1,999 Federal assistance programs.
- At the time of writing this article, there are