Insurance Day
Australian stimulus fiasco pays out to the dead
STIMULUS packages have been all the rage in the wake of the global credit crisis but in Australia the payments have caused
their own stir. Kevin Rudd’s government has been forced to defend its economic recovery plan after it emerged that 16,000
dead people had received A$900 ($707.55) each in stimulus payments meant to protect the country against recession. The payments,
part of a A$52bn package, were sent out to anyone who had filled in a tax return in Australia last year, resulting in A$14m
being paid to 16,000 dead citizens and A$25m to 25,000 former residents.