When Australia was threatened by the global financial crisis, Federal Labor took the decisive action necessary to keep our economy strong and protect jobs and small businesses.

The Nation Building Economic Stimulus Plan was targeted to support local jobs throughout Australia by building new projects and facilities that will have lasting benefits across the nation including:
 

• Cash payments to low and middle income families, carers and pensioners, to support demand and help those most in need;

• Additional investments in our schools, social housing and local community infrastructure to support growth and keep more tradies in work;

• Tax breaks for small businesses to help them grow their business;

• Investment in economic infrastructure like road, rail, and ports to support growth and jobs during the global downturn, while putting in place the building blocks for future growth.

As a result, the Australian economy has come through the global recession in a stronger position than any other advanced economy.

Australia was the only major advanced economy to avoid recession and recorded the strongest growth of any advanced economy through 2009.

Australia’s unemployment rate is lower than any major advanced economy. The economy has added more than 350,000 jobs in the past year.

There are now more than 450,000 Australians in jobs today than when the Federal Labor took office in November 2007, notwithstanding the impacts of the global recession on our economy.

Tony Abbott and the Liberal Party opposed the Economic Stimulus Plan that kept our economy strong and supported jobs.

Without Federal Labor’s decisive action, around 200,000 more Australians would be without a job today.