btw, 如果你不知道次級房貸的英文 請記一下 "subprime loan" or "subprime mortage" 如果你還不知道什麼是次級房貸 請在本板搜尋 "次級房貸" 並稍作閱讀 萬分感謝 <(_ _)> ------------------------------------------------------------------------- Australian government says it will spend US$7.4 billion to boost economy By ROD McGUIRK, AP Tuesday, October 14, 2008 4:47 pm CANBERRA, Australia –– The government announced Tuesday it would pour 10.4 billion Austr alian dollars (US$7.4 billion) into Australia's economy to try to protect it from the global financial meltdown. "The global financial crisis has entered into a new, dangerous and damaging phase," Prime Minister Kevin Rudd told reporters after his Cabinet approved the huge funding injection over the next three years. The spending injection - which amounts to 1 percent of Australia's gross domestic product - sharply increases the level of intervention in the crisis by a government that at the weekend announced it would guarantee all bank deposits. Most of the money will be drawn from a A$21.7 billion (US$15.3 billion) budget surplus forecast for the fiscal year ending June 30, 2009, which has been built partly on the back of a resources boom in the minerals-rich country in recent years. "The purpose of a surplus in the budget is to deal with tough times and tough times are with us," said Rudd. He said the government intended to continue delivering budget surpluses, but he warned of a "bumpy road ahead" and that he would take "whatever action is necessary" to underpin growth and Australia's financial system. Australian share markets rose sharply Tuesday even before Rudd's announcement, following the rapid rise on Wall Street that followed days of losses. The benchmark S&P/ASX200 index closed up 3.7 percent to 4,335.2 in response to media speculation about a big government spending program. The index rose about 5 percent on Monday. Most of the money will go toward increasing pensions and family welfare payments, increasing grants to first home buyers and to infrastructure projects. Rudd said the strategy "will strengthen the national economy and support Australian households, given the risk of a deep and prolonged global economic slowdown." Treasurer Wayne Swan, the government's top economic minister, said the dramatic injection of funds was necessary because of the scale of the financial crisis. "It's really important to understand that the world changed, changed dramatically, in the last couple of weeks," Swan said. Rudd maintained that Australian banks are better placed than most in the world to weather the credit crunch but the government action was necessary to maintain market confidence. Some economists said the package may not be enough to prevent Australia slipping into a recession after 17 years of uninterrupted growth. "It's a 50-50 call whether we'll see one or not," AMP Capital Investors chief economist Shane Oliver said. "The package may help head that off or ensure that any recession is a mild one." http://0rz.tw/ec4Xf --

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