Posts tagged "lockdowns and the economy"

Australia’s economy was performing exceptionally well in the lead-up to the Delta variant lockdowns, propped up by a barrage of government spending in the three months to June and impressive household spending.

Suddenly we're talking about a recession that no one suspected a week ago, as lockdowns crush the economy. But the real impacts will be on monetary policy.

Even if the government hadn’t spent $5.9 billion on JobKeeper and other emergency measures last financial year, its budget position would have collapsed.