Australia’s federal Treasurer, Josh Frydenberg, has admitted that the “devastating” stage four lockdowns in Victoria will “severely” impact the movement and trajectory of Australia’s economic recovery.
“This is a real kick in the guts to Victorian businesses,” he said.
The Victorian economy represents a quarter of Australia’s economy and as a result, the pandemic lockdown will impact the speed and trajectory of the economic recovery “beyond the Victorian border.”
Victoria is a crucial part of Australia’s integrated supply chains. The Port of Melbourne is one of the largest cargo ports in the country and many companies distribute their products nationally from Victoria.
Companies like Wesfarmers who own hardware giant Bunnings and OfficeWorks also use Victoria as a production base for products like paint and their national distribution of products.
Treasury’s original costings for Victoria’s 6-week lockdown was $3.3 billion but these estimates didn’t factor in Stage Four lockdowns.
Paid Pandemic Leave
In the interview, the treasurer admitted the federal government was in discussions with relevant stakeholders about paid pandemic leave.Retail stores that have contactless ‘click and collect’ services, and delivery services with strict safety protocols in place will be able to open.
Hardware stores can remain open onsite, but for tradespeople only.
Under the new measures, shopping may only be done by one person from every household once a day, and exercise will be limited to one hour a day. Both activities can only occur within five kilometres of the household’s residence.
There will also be a curfew between 8 pm and 5 am during the six-week lockdown.
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