MELBOURNE -(Dow Jones)- The Australian government will continue to carefully wind down its economic stimulus measures, the nation's Treasurer, Wayne Swan, said Sunday.
"Our stimulus program was specifically designed to have its maximum impact in the June quarter of last year and then gradually phase down," Swan said in a statement.
He said some measures, including cash handouts to taxpayers and boosted housing grants, have already been fully withdrawn.
"Our fiscal stimulus will continue to carefully wind down as private demand recovers, subtracting from growth throughout 2010," Swan said.
The comments come as data continues to show Australia's economic situation is improving. Last week, official data showed the nation's unemployment rate fell to 5.5% as the economy continues to create jobs, and adding to expectations the Reserve Bank of Australia could again increase its official cash rate when board members meet early next month.
Swan also repeated that the government plans to re-introduce legislation for its planned carbon pollution reduction scheme "as soon as Parliament resumes in a bit over two weeks."
"Tackling climate change is one of the important items on a reform agenda that also includes tax and health reform," Swan said.
Copyright 2009 Dow Jones Newswires
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