Business leaders have thrown their support behind the Rudd government's $10.4 billion boost for the economy, but are calling for more help for small business.
Pensioners, low income earners and first home buyers were all big winners in yesterday's pre Christmas spending spree by the Prime Minister.
Greg Evans from the Chamber of Commerce and Industry says employers seemed to miss out.
“We think at some stage we’ll need to address other issues, more longer term issues such as taxation relief to help small business, to ensure that they’re not adversely effected by the economic downturn as well.”
The PM addressed the nation last night, warning we're going through the worst financial crisis in our lifetime.
Kevin Rudd has suggested the government might loosen the budget purse strings further, as the government's determined to take whatever action's necessary to maintain stability of the Australian financial system.
In his first televised address to the nation as prime minister, he's moved to reassure Australians while also acknowledging many are anxious about the future.
Commonwealth Securities chief economist Craig James says it's not yet known what impact the package will have on economic growth and inflation.
Mr James says he expects the Reserve Bank still has room to cut the cash rate, currently at six per cent, to five per cent by late this year or early next year.
