It's now apparent that without continued support, unemployment would skyrocket and consumption would dive, hurting profits and threatening the survival of many businesses.
Already, we are starting to see broader employment impacts from the COVID-19-inspired crush of the economy. Still, indications are that the Government will deliver an upbeat assessment of the recovery on Thursday, albeit not quite as triumphant as last year's Back in Black extravaganza. Even if that is the case, it's worth noting the cost of the pandemic. The thin black line is where the economy was supposed to be headed before the shutdown. Even with the sunniest projections, it will take more than a year to get back to where we were.
More like tell me why I care
Why do you refer to it as the 'government's debt' when you know full well it's the people & businesses of Australia that have to pay it?
Thank Daniel Andrews.. the nation had the virus under control until he’s socialist big government bungled it massively.. Dan Andrews hasn’t contained a single cluster
What a load of propagandaous BS! There is no discussion of Tax Theft and rampant usage of offshore accounts. This is criminal theft. Nor does it review lost opportunities of the green Superpower economy of Ross Garnaut’s. Australia has a corruption problem, destroying prosperity!
Total Debt about $1 trillion 2020 Feb Net debt is $392.3b. 19.5% of GDP. 2013 Net Debt was $240b & 30% of GDP. 2013 Labors projected debt was $667 billion And we are Still paying off Labor’s loans and the interest on 2007-13
Get with the times Ian Verrender. Catch up with Alan Kohler. At least he’s living in the now. You’re still floating around in the Gold Standard!
so is the coronavirus
When we continue to casually spend over $1 billion of taxpayers hard earned on a Leftard sheltered workshop at Ultimo it's not hard to see why. TheirABC