THE economic stimulus package worth $137 million will not come into effect fast enough, says Opposition Leader Alistair Coe. 

“Some businesses have already closed, and jobs have been lost,” says Mr Coe, in response to the economic stimulus package announced by Chief Minister Andrew Bar today (March 20).

The package has promised money to the arts, clubs, health, businesses and rate payers, but Mr Coe says some people won’t see any money until later in the year.

“The $150 rates rebate will not arrive in wallets until August or September,” he says.

“There is little detail about what assistance will be provided to renters. Help is needed now for many households.”

This week Mr Coe says he’s spoken with many employers and met with several representatives of the tourism, hospitality, construction, property and events industries, as well as key business groups and community clubs, who have already reported job losses and business closures.

“This is an extraordinarily difficult time for small businesses who are struggling to keep their doors open and staff employed,” he says.

“Now is the time to boost business and consumer confidence, establish certainty, make quick decisions, commit to strategic spending and create new opportunities.

“The Canberra Liberals call on the ACT government to act with greater urgency.”