Sydney lockdown could wipe out recovery, BCA calls for smarter plan

A three-month lockdown could completely erase Australia’s economic recovery from the coronavirus recession with the nation’s largest businesses pleading for all governments to develop a smarter approach to lockdowns.

Analysis by EY for the Business Council found 100 days of restrictions at current levels would wipe out all of the economic gains made through the first six months of 2021. The lockdowns are currently costing $2.8 billion a week with NSW accounting for $257 million a day. “Lockdowns have enormous economic and social costs and should be a last resort. But where they are used, we need to move from snap to smarter lockdowns,” she said.

Movements out of lockdown stages would be linked to set milestones while the council believes there needs to be more financial support extended to the aviation and tourism sectors. Shadow treasurer Jim Chalmers said it was “common sense” for the government to bring back JobKeeper or something like it, so as to maintain the link between businesses and their workers.

This would translate into minus 1.4 per cent growth through the quarter. That would be the sixth-worst quarterly performance since GDP statistics started being collated in 1959.

swrighteconomy Pandemic impacts the economy. Lockdown minuses that impact. Did you have an example of an economy doing well without constraining the virus, interested to see it?

swrighteconomy Maybe if the BCA and other business lobbyists had pushed for a hard lockdown earlier instead of pushing Gladys to go easy we wouldn't be in this mess.

swrighteconomy There are two options only. One is an economic response and the other is a humanitarian response. They are mutually exclusive.

swrighteconomy What is a smarter plan, BCA?

swrighteconomy It is a pretty useless, lazy government that needs the BCA to come up with reasonable policies. We pay substantial incomes to ministers so that they can wave their hands at the media for some attention at an illegal protest. Meanwhile the BCA have to do their job for them.

swrighteconomy Fuck the BCAcomau! SYDNEY NEEDS A RING OF STEEL TO PREVENT THE SPREAD TO ALL OF AUSTRALIA AND CAUSE A CATASTROPHIC ECONOMIC DISASTER.

swrighteconomy May I recommend the go early, go hard, approach, as displayed by Victoria (as done by Victoria TWICE against DeltaVariant , and SA once); the namby pamby half arsed 'please stay home' all shops open, in NSW is responsible for simply maintaining numbers, NOT stopping infection

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