Australian Business Council Warns of $400 Billion Economic Hit Unless Urgent Reforms

Governor of the Reserve Bank of Australia, Philip Lowe, makes a speech on March 19, 2020 in Sydney, Australia. Brendon Thorne/Getty Images

On April 27, the Business Council of Australia (BCA) said the Australian economy could take a $400 billion hit if lockdown restrictions continue for six months.

They urged the federal government to act on comprehensive reforms needed to get the post-pandemic economic recovery on the right track—fast.