The economic
recovery plan

This is our comeback

The Economic Recovery Plan is about rebuilding the economy and creating jobs, and includes measures that will benefit individuals and households.

  • Lower taxes to put more money in the hands of everyday Australians.
  • Encouraging more training to give people the skills they need to get a job.
  • New and accelerated infrastructure projects to support jobs.
  • Help for first home buyers to purchase a new home sooner.
  • Support for pensioners.
This is our come back

Support for
Individuals & Households

We’re cutting taxes so you can keep more of what you earn,
allowing you to spend more on what you need.

Lower taxes

Around 11.6 million individuals will receive a tax cut in 2020-21.

In 2020-21, low and middle income earners will receive tax relief of up to $2,745 for singles, and up to $5,490 for dual income families.

Extending the First Home Loan Deposit Scheme

Helping an additional 10,000 first home buyers to build a new home or purchase a newly built dwelling with a deposit as little as 5%.

Support for pensioners and other eligible recipients

Providing two additional Economic Support Payments of $250 to pensioners and other eligible recipients.

We’re committed to getting people into jobs and ensuring that Australians
have the right skills for the jobs of the future.

STUDY FREE OR LOW-FEE COURSES THROUGH THE JOBTRAINER FUND

Creating up to 340,700 additional training places to help school leavers, job seekers and young people access courses to learn new skills for jobs in demand.

Job-ready graduates

Government university funding of $18 billion in 2020 to grow to $20 billion by 2024 to support students, universities and researchers, and creating up to 30,000 new university places for students and around 50,000 short course places by 2021.

We’re helping young people access job opportunities and rebuild their
connection to the labour force as the economy recovers.

Temporary JobMaker Hiring Credit

Providing incentives to businesses to take on more employees aged between 16 - 35 years old, supporting up to 450,000 new positions for young people.

Local Jobs Program

Supporting local communities to identify and drive solutions in their region to help job seekers move into jobs.

Jobs through infrastructure investment

Investing $14 billion in new and accelerated infrastructure projects until 2024 to support 40,000 jobs.

We’re investing in women’s workforce participation,
supporting women into jobs and helping to boost economic growth.

2020 Women’s Economic Security Statement

Delivering a range of programs to create opportunities and greater choice for women, and support to build economic security.

Women@Work Plan

Expanding grants and programs to help create opportunities for women, help women retain employment and build career pathways, including in male-dominated industries.

Extending the Paid Parental Leave scheme

Extending the work test period for individuals impacted by COVID-19, allowing even more people to receive Parental Leave Pay and Dad and Partner Pay.

Opportunities for women in STEM

Providing $25.1 million to assist 500 women through STEM Industry Cadetships or Advanced Apprenticeships, and $14.4 million to expand and extend three key women in STEM initiatives: the Girls in STEM Toolkit, the Women in STEM Ambassador initiative and the Women in STEM and Entrepreneurship grants program.

We’re accelerating reforms and investments to enable greater adoption of digital technologies
to enhance consumer choice and greater control over consumer data.

Investing in the NBN

Investing an additional $4.5 billion in the NBN to bring ultra-fast broadband to millions of families.

Consumer Data Right

Supporting the roll out of the Consumer Data Right in the banking sector, providing individuals with greater control over their consumer data and allowing consumers to get better banking deals.

We’re committed to securing Australia’s electricity, fuel and gas supplies
to keep prices low, create new jobs and support local industries.

Lower electricity prices

Maintaining low electricity prices by working with industry and the states to accelerate electricity projects and create over 4,000 jobs.