The cost of lockdown in Australia

JobSeeker

People are seen in a long queue outside a Centrelink office in Brisbane, Tuesday, March 24, 2020. Source: AAP

Australia's economy will take a $50 billion hit in the June quarter, with the prospect of further worsening should the restrictions on COVID-19 continue.


On Tuesday treasury has estimated Australia's economy will shrink by between 10 and 12 per cent by June, the equivalent to $50 billion with weekly losses of $4 billion.

This is one of the topics we discussed this morning with Max Tani, Professor of finance at the University of New South Wales (UNSW) in Canberra.

People in Australia must stay at least 1.5 metres away from others. Check your state’s restrictions on gathering limits.

Testing for coronavirus is now widely available across Australia. If you are experiencing cold or flu symptoms, arrange a test by calling your doctor or contact the Coronavirus Health Information Hotline on 1800 020 080.

The federal government's coronavirus tracing app COVIDSafe is available for download from your phone's app store.

SBS is committed to informing Australia’s diverse communities about the latest COVID-19 developments. News and information is available in 63 languages at 

Share