Federal government may need to give financial aid to sustain Australia’s second biggest economy to limit flow-on effects throughout country
The strict new stage 4 lockdown announced by the Victorian premier, Daniel Andrews, along with the shutdown of certain industries to be unveiled on Monday, represents a hammer blow to the Australian economy.
They immediately invalidate federal Treasury forecasts released less than a fortnight ago and will require the prime minister, Scott Morrison, to tip buckets of money into Victoria if Australia is to avoid prolonging and deepening what is already an economic disaster.
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