The Rudd Government's stimulus strategy is helping to keep Penrith working by injecting $200 million into the local economy in just the last nine months, the Assistant Treasurer, Senator Nick Sherry and Member for Lindsay, David Bradbury MP, have announced today.
The Assistant Treasurer told local businesses at the Penrith City and District Business Advisory Centre that the massive injection of stimulus funding was helping to support local jobs.
"The people of Penrith and St Marys have now received around $200 million in stimulus package funding, at a time when the area has been hard hit by the global recession," said the Assistant Treasurer.
"The Rudd Government's stimulus strategy is supporting Australian jobs and businesses in these difficult times and is designed to continue to cushion the economy from the worst effects of the global recession."
"There's no doubt the situation would have been far worse without the substantial resources and stimulus funding the Rudd Government has provided."
The Government's $200 million package to support the people of Penrith and St Marys has included:
- $111 million in school infrastructure as a part of the Building the Education Revolution;
- $55 million in tax bonus stimulus payments to 62,990 taxpayers;
- $21.4 million in Economic Security Strategy payments to pensioners, seniors and carers;
- more than $7.4 million to Penrith City Council for various community infrastructure projects, including upgrading the community centre, parks and playgrounds; and
- almost $3 million for social housing in Penrith, employing 44 TAFE-based pre-apprentices, and for the maintenance and repair of 583 social housing dwellings.
"At a time of great economic uncertainty, the stimulus package has invested in the nation-building infrastructure we need for the future to support local jobs and Keep Penrith Working," said Mr Bradbury.
"Local business has played an important role in cushioning the personal impacts of the downturn, with small businesses cutting back hours worked as opposed to laying off workers," Mr Bradbury said.
"The Rudd Government will continue to work with businesses to ensure that Australians remain employed and that businesses will have access to a highly skilled labour force," Mr Bradbury said.