and to have a short‑lived impact on the budget balance. The measures were targeted at those areas most in need of support — household consumption and dwelling investment.

To date, the FHOB has helped stimulate housing activity by assisting over 59,000 first home buyers to enter the housing market.

Retail sales are 4.5 per cent above their pre‑stimulus levels of November 2008; growth of 3.8 per cent in December 2008 was the strongest in eight years.

Nation Building and Jobs Plan

Two‑thirds of the Nation Building and Jobs Plan (NBJP) is a

direct investment of $29.9 billion in schools, housing, energy efficiency, community infrastructure and roads, and support to small businesses. The NBJP will drive the largest annual increase in public investment on record.

The centrepiece of the NBJP is the Building the Education Revolution program. Every school in Australia will benefit from a share of $14.7 billion of investment in school infrastructure and maintenance.

The NBJP also provides $12.2 billion in immediate stimulus by delivering valuable assistance to individuals and families through one‑off bonuses.

Supporting investment and skills

To support growth and prosperity as we emerge from the global recession, the Government has taken early action to help people get back into work and learn the skills needed for future jobs.

The Government is investing $1.5 billion through its Jobs and Training Compact, which aims to provide support to those affected by the downturn. This includes $299 million to provide retrenched workers with intensive employment assistance and $155 million in support for apprentices and their employers.