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The AAP notes that "Australia's first.....>

AUSTRALIA
AUSTRALIA: The AAP notes that "Australia's first tentative steps to lifting
coronavirus restrictions will send a quarter of a million people back to their
jobs and add more than $3 billion to the economy. Treasury estimates that by the
time all states reach the third stage of the progressive reopening, roughly in
July, the economy will be growing by $9.4 billion a month. Under that third
stage, people will be allowed to gather in groups of up to 100 and most
businesses should be able to reopen. The government estimates this will bring
more than 850,000 Australians back to work than at present. This figure includes
people who have been stood down but are receiving the JobKeeper wage subsidy,
who aren't counted among official unemployment estimates. Treasurer Josh
Frydenberg will detail the boost to each state in an economic statement to
parliament on Tuesday. But he will warn going backwards on restrictions if the
virus starts to spread again will cost NSW $1.4 billion, Victoria $1 billion and
Queensland $800,000 a week. He will also reflect on the sobering data counting
the economic impact of the virus."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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