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Main objectives and targets of budgetary stimulus packages, excluding measures aimed at the financial system (e.g. recapitalisation/bailouts), May 2009
Note: This list excludes financial or other measures aimed at the liquidity of the financial system/the banking sector.
Source: Based on publicly available stimulus plans, announcements and replies to the OECD questionnaire in the case of accession countries (cut-off date end April 2009). Information for the enhanced engagement countries is provisional and not based on replies to the OECD questionnaire.
OECD member countries
Australia
Large infrastructure investments (road, rail, housing, and education infrastructure); tax measures; support to construction sector; financial support to pensions, workers, families, home owners and others; support to small enterprises (e.g. temporary business investment tax breaks); and training measures.
Austria
Infrastructure (thermal renovation of public buildings, schools); investment incentives through tax measures; support to SMEs (loan guarantees, direct loans, promoting export competitiveness, etc.); regional employment programme; additional R&D spending; and measures relating to day-care.
Belgium
Speeding up of public infrastructure projects and encouraging housing investment; measures to help firms (in particular small ones) to maintain their operations (alleviate financial burden of companies, facilitate payments); safeguarding purchasing power of households; and green technology and energy cost-cutting measures.
Canada
Investments in roads, bridges and public transport, investments in clean water as well as in knowledge and health infrastructure (including post-secondary institutions, research equipment, digitisation of health records, extension of access to broadband services and green energy infrastructure); investments in the renovation and retrofit of social housing and support for home ownership and the housing sector; personal and business tax relief; access to financing, support and training to citizens affected by the crisis; and support to most affected sectors and communities (e.g. targeted funding for the auto, forestry, agriculture, and manufacturing industries).
Czech Republic
Increase in public expenditure; lowering of taxes and social insurance contributions and direct assistance to households; and improving the functionality of the sickness insurance system. A more comprehensive package is currently being debated.
Denmark
Current measures mostly focused on bank aid and financial measures (beyond the scope of this analysis).
Finland
Measures aimed at the infrastructure (transport construction and broadband); energy and mining sectors; education, research, and training; and others as part of the Finnish Innovation strategy.
France
Mainly investment in public enterprises (post, energy and railways), defense, investments in strategic areas (sustainable development and clean technologies, higher education and research and the digital economy); investment for regional and local authorities (in partnership investment in hospitals, childcare facilities and other social institutions); support to employment, housing, the financing of firms (in particular SMEs), health, and some measures for the environment. Special measures targeted at the automobile sector.
Germany
Infrastructure (particularly schools and universities, also measures to foster broadband); measures to help businesses and households retain employment and overcome the crisis (secure funding, government guarantees, reduction of non-wage labour costs, income tax cut and other means to ease burden on households – e.g. payments for children); training and upgrading grants (raising levels of education); fostering innovation and R&D; green technologies. Special measures targeted at the automobile sector.
Hungary
Accelerating construction projects of national importance; simplifying the application system of the National Development Plan; simplifying construction regulation, financial measures to ease financing of (small) firms (including microfinance, venture capital and interest subsidies); easing the administrative burden of firms; and R&D and Innovation support.
Iceland
Despite heavy impact of crisis, the full operation of automatic stabilizers is guaranteed; measures for unemployed and benefits to the self-employed; improving the financial capacity of households, mortgage payment adjustment for homeowners; payment adjustments for businesses (e.g. postponing the payment of VAT); and measures to stimulate employment, including through the acceleration of labour-intensive transportation investment projects.
Italy
Stimulating investments on infrastructures and research (including broadband); supporting low-income households (tax cuts for poorer families and pensioners); reducing the tax burden for SMEs; focus on greening the automobile sector and support to methane systems and the purchase of ecological cars.
Japan
Support for household consumption; tax reductions on mortgages; benefits for dependent persons; cutting of healthcare costs; creation of new public-sector jobs in nursing, retirement homes and childcare, and jobs relating to the protection of the environment; raising the self-sufficiency ratio of food; funds on a priority basis to research in advanced technologies and related research; and reduction of taxes for eco-friendly cars.
Korea
Focus on sustaining green technology and value-added services to build new engines of growth (including sustainable energy, technologies to reduce greenhouse gas emissions, information technologies as well as healthcare and tourism).
Luxembourg
Support of purchasing power through targeted measures; support of business activity through tax measures and financial support; of business activity through public investments; direct support of enterprises in difficulty; creation of an administrative environment conducive to economic activity; support tackling the effects of the crisis on employment; and measures to prepare growth after the crisis.
Mexico
Transport infrastructure programme; Temporary Employment Programme and the Programme to Preserve Employment; protection of family incomes (extending the social health care coverage, freeze on energy prices, and supporting households to change old home appliances to energy-saving equipment); supporting SMEs by reducing electricity prices, increasing credit availability and using government procurement targeted at SMEs.
Netherlands
Measures focused on problems in the housing market; export credit insurance; help for medium-sized companies; and measures aimed at the health care sector. Additional package of measures aimed at sustainability, innovation, education, the labour market, infrastructure and construction.
Norway
Tax relief and measures for employment, welfare and the environment. Emphasis on municipalities (schools, nursing homes, churches); construction (in particular transport and buildings with energy efficiency in mind); employment, readjustment and skills; business R&D (direct grants and grants for PhD-students) and ICTs (infrastructure, digitising of government services, electronic signature, etc.). Also, focus on green measures.
Poland
Facilitating investment financed from EU funds; stimulating investment in telecommunication infrastructure; financing for enterprises, especially SMEs (including credit guarantees, micro-finance); support to R&D; and focus on renewable energy.
Portugal
Public investment in education (modernisation of schools); energy (especially transmission infrastructures and renewable energy) and new-generation technologies (broadband networks); promotion of economic activity and employment (creation of fund for industrial restructuring, financing facilities to SME and exporting enterprises; new corporate tax benefits; reductions of social contributions in special cases; education/training programmes); strengthening of social protection; investments in R&D; and support to the automotive sector.
Slovak Republic
Infrastructure (roads, high-speed broadband, new atomic reactors); transfer of financial sources from basic research to applied research and innovation; reallocation of funds to SMEs and venture capital; and increase energy efficiency.
Spain
Tax cuts; spending on public works and other stimulus measures to raise employment rates; liquidity to credit-strapped companies (especially SMEs) and households (families, in particular); special help to the automobile sector and modernising of basic industries such as transportation, energy, services and telecommunications; and modernisation of the public civil service.
Switzerland
Railway and road infrastructure; energy efficiency of buildings; tourism industry; and export promotion.
Turkey
Tax cuts (on income, businesses and consumption); other revenue and fiscal measures; credit facilities and guarantee schemes for SMEs; contributions for public pensions; measures to reduce unemployment; support to health care; and measures targeted at increasing economic competitiveness (details to be confirmed).
United Kingdom
Cut in value-added tax rate; acceleration of capital investment projects (likely to include some research infrastructure) and for accelerated roll-out of broadband; credit line and loan guarantees (in particular for SMEs); and measures to combat unemployment (e.g. paying companies to hire and train the unemployed).
United States
Direct relief to working and middle-class families (tax credit, expansion of unemployment insurance, state fiscal reliefs, etc.); large infrastructure investments (roads, public transit, high speed rail, smart electricity grid and broadband); protecting health care coverage of citizens and modernising the health sector (including its computerisation and digital health records); increased funding for key scientific and engineering agencies; modernisation of classrooms; laboratories and libraries; and fostering renewable energy production and investments.
European Union
Infrastructure projects (trans-European transport projects, high-speed Internet); employment support initiative (including for the low-skilled, apprenticeships, training, reduction of social charges, etc.); investment in R&D, innovation and education; access to financing for business; reduction of administrative burdens and promotion of entrepreneurship; increase of climate change and energy security investments; improvement of the energy efficiency in buildings; and promotion of "green products" and the development of clean technologies for cars and construction.
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OECD accession countries
Chile
Early tax returns; Construction of new public infrastructure and investment by public companies; financial resources to SMEs and the economy through fiscal guarantee schemes; subsidies to housing market; and employment protection (including subsidies to hire younger workers).
Estonia
Infrastructure (water management, transport, municipal infrastructure, etc.); vocational education and health service infrastructure; support to firms (loan and export guarantees, technology and development incentives, etc.); support to the construction sector; entrepreneurship measures; occupational training and active labour market measures; and energy-saving measures for housing.
Israel
Tax reductions; infrastructure investments (desalination plants, railways); credit lines for business (especially SMEs) and export credits; funds to hire workers and retraining; and support to R&D.
Russia
Tax cuts; enhancement of social welfare; provision of healthcare and social guarantees; state support for employment; maintenance and development of industrial and technological potential; retraining and employment; measures for SMEs; reduction of administrative burdens on businesses: measures to support R&D; and measures supporting energy efficiency.
Slovenia
Measures aimed to infrastructure, energy and environment; support to enterprises (i.e. assuring financial liquidity and safeguarding existing jobs, helping company investments, etc.); measures to improve labour market, life-long learning and social security; and increasing expenditure in research and education.
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OECD enhanced engagement countries
Brazil
Housing for poor families; credits for firms; and support to the automobile sector.
China
Low-income housing; rural infrastructure; water; electricity; transportation; the environment; technological innovation and rebuilding after disasters such as earthquakes. Support package to auto and steel industries.
India
Value-added tax cut; infrastructure investments (mostly in rural areas); support to social security schemes and housing; measures to help businesses (in particular labour-intensive export sectors, e.g. textiles/handicrafts.
Indonesia
Infrastructure (mainly roads); education spending; and support to affected industries.
South Africa
Public investment in economic infrastructure; support to low-income workers, the unemployed and vulnerable groups; employment and skills development; effective industrial or sector strategies, higher levels of private sector investment and entrepreneurship; pursue the transformation of the informal economy activities; and improve and streamline government delivery and regulation.
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