Stimulus cash 'will come one way or another'

Mozo

Thursday 02 April 2009

Aussies are still likely to find they will receive a cash handout from the government as part of its financial stimulus package.

George Williams, senior law lecturer at the University of New South Wales, claims that regardless of the high court’s decision on whether constitutional powers were broken with regards to legislating the forthcoming payments, people should get their hands on the money "one way or another".

He adds that even if the government is ruled to have broken such legislation – in a decision expected to be made tomorrow (April 3rd) – it will find some other manner to distribute the cash, although this could be delayed.

And with the individual amount to be given standing as high as $900, the cash could prove a welcome financial boost for many, whether it is invested in high interest savings account or put towards credit card debts.

Bina Brown recently suggested in a Business Day article that by using the financial stimulus cash to make an overpayment on home loans could reduce people’s length of repayments significantly, saving them thousands of dollars in the process.

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