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Victorian shutdown expected to devastate national economy

Article image for Victorian shutdown expected to devastate national economy

Victoria’s coronavirus outbreak will cost the national economy billions of dollars with new pandemic leave also announced.

Around 975,000 Victorians are on JobKeeper with the figure expected to remain high amid a slate of industry shutdowns.

Almost all retailers will be forced to close under the Stage 4 restrictions, and construction sites will be depopulated.

The federal government also confirmed there will be a new paid pandemic leave introduced for Victorians who need to self-isolate and don’t have any sick leave left.

Tim Piper, the Victorian head of the Australian Industry Group told Jim Wilson they’ve reached the point where Victoria will be absolutely devastated economically.

“250,000 new people out of a job and perhaps even more … so many people are going to be on JobKeeper, it’s really going to be extraordinarily difficult.”

Mr Piper also warned the economic wellbeing of Australia will be compromised due to Victoria’s shutdown.

“I think it will have a massive impact on our GDP nationally.

“If we don’t get a handle on this in Victoria then we’re going to be in such a stage for quite some time.”

Click PLAY below to listen to the full interview

Image: Getty

Jim Wilson
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