Urgent update from the Treasurer in regards to the situation in Victoria
The Treasurer, the Hon Josh Frydenberg MP, addressed the ACCI and Victorian Chamber of Commerce & Industry in a video conference of 500 business leaders about the latest developments in Victoria & across the country. The Treasurer said that “Victoria’s new restrictions will impact the economy “more broadly” but he cannot yet put an amount on it. The lockdowns in Victoria will hit the State’s economy which makes up around a quarter of the national economy, and this will obviously impact on the consumer & business confidence more broadly.”
He also said these might be dark and terrible times but assured all Australian’s that the Morrison Government is there for them and is well placed to continue to provide the record economic support measures for business, which is helping the economy to stay resilient and for businesses to survive.
The Treasurer thanked the business community “for what they are doing and for employing so many Australians.” He urged the business community to maintain its confidence in the economy as business will be crucial to the recovery process.
Wednesday, 05 August 2020