True impact of coronavirus pandemic ‘will be felt for a very long time’
almost 4 years in theaustralian
Sky News host Cory Bernardi says Australia’s national debt has blown out to record levels due to “insane policies and the growing demands of the welfare state”.
“We need to recognise that our incredible 28 years of economic growth was sustained through booming migration – not economic or productivity reforms,” he said.
Australia officially recorded negative growth for the March quarter which was in part due to the horrific bushfire season which hit many regional towns incredibly hard, but a major contributor was the ongoing economic crisis on the back of the coronavirus pandemic.
Treasurer Josh Frydenberg all but confirmed Australia was in recession with the July quarter expected to yield further negative growth.
“The economic hangover of the unprecedented panic will be felt for a very long time.
“In fact, I don’t think the true impact of the shutdown has really been felt yet.
“Whatever economic slowdown we have had has largely been masked by the government stimulus package of hundreds of billions of dollars through grants, JobKeeper, JobSeeker and other measures.”
Image: Getty
Who is popular today?
