Australia is in for a long and damaging economic slump, unless governments inject substantially more fiscal stimulus.
About 1 in 3 Australian businesses have expressed interest in the JobKeeper Program – but not all sectors are represented equally.
Governments around the globe are promising record amounts of spending to tackle the crisis. And those commitments will get bigger before this is over.
The Government has announced almost $200 billion of spending in less than a month. If you are having trouble keeping up – here is a short summary.
Every state and territory government in Australia has announced a spending response to the COVID-19 crisis. The measures, including loans, tax deferrals, and health spending, so far total almost $15 billion. This compliments the almost $194 billion in direct economic measures already announced by the Federal Government.