on air now

Coronavirus costs economy $4 billion per week

Article image for Coronavirus costs economy $4 billion per week

Treasurer Josh Frydenberg has revealed the cost of the coronavirus pandemic is topping $4 billion every week.

As social restrictions continue, the unemployment rate is expected to reach 10 per cent.

Mr Frydenberg told Ben Fordham the federal government has determined 15 conditions need to be met before restrictions can be lifted.

“That includes everything from having the right medical equipment in place, and the right testing and tracing systems.

“The fact that now five million Australians have downloaded the app, Ben, is a very positive sign, because that’s going to be very important to maintain we don’t have a second outbreak.”

He said he’s especially eager to see children return to school, as keeping kids with their parents at home is having a “cascading effect” on the economy.

Click PLAY below to hear the full interview