The Rudd government has announced two major new literary prizes. The Prize will be the richest in Australia, and will rank among the top literary prizes in the world. The annual awards will be worth $100,000 in each category, with a further budget of $100,000 to be spent each year on promotion and adminstration of the prizes.
There will be a Prime Minster’s Literary Prize for Fiction and a Prime Minister’s Literary Prize for Non-fiction. The awards will be run through the office of the Minister for the Arts, Peter Garrett.