Morrison considers new economic stimulus for hospitality and tourism industries
Prime Minister Scott Morrison is considering a second economic stimulus package for small businesses as coronavirus pandemic threatens the tourism, hospitality and services sectors.
Morrison, Treasurer Josh Frydenberg and Finance Minister Mathias Cormann will sit down to draw up extra economic measures to support those industries most at risk from the sharp downturns in overseas and domestic visitors.
The rescue package, expected to be finalised this week, comes as the national cabinet meets today to consider banning groups of more than 100 people in enclosed areas.
The proposal was first brought up with state and territory leaders on Sunday and comes after warnings of an “exponential” rise in the number of coronavirus infections.
The virus has now infected 298 people and claimed five lives in Australia.
But Australia could see between 40,000 and 80,000 cases a day by August, with estimates as high as 300,000 cases a day by July if the disease is allowed to spread “unmitigated”, according to government modelling.
Tourism and Trade Minister Simon Birmingham said the tourism and aviation industries were among those being hit the hardest at present.
“There is no doubt that job losses are occurring already and, sadly, will continue to occur,” Birmingham said.
Birmingham met with tourism operators in Cairns on Monday, saying the government’s economic measures wouldn’t be limited to the stimulus package.
“We will work from now through until the federal budget to make sure that not only is that $17.6 billion spent and invested wisely to save as many businesses and jobs as possible, but also that we look at what else is going to be necessary in the future to see everyone through what is going to be a long and challenging period,” Birmingham said.
Sheridan Randall, 17th March 2020
