Morrison: No stimulus, will lift travel ban early

From the AFR:

Scott Morrison has ruled out a fiscal stimulus package as the government announced that the economic effect of the coronavirus would be worse than that of the bushfires and all but conceded the forecast budget surplus had gone.

At the same time, Mr Morrison hinted that the travel ban in place for China could be lifted earlier than anticipated when he spoke of the resounding success of Australia in keep the disease at bay so far.

Mr Morrison said 30,000 Australian citizens, residents and immediate family members had entered Australia from China since the travel ban was imposed on February 1 and the self-isolation under which they quarantined themselves for 14 days had resulted in no human-to-human transfer of the disease.

Yeh, he said those two things. Both are the opposite of what any responsible government would do. A healthy skepticism of Chinese infections data would keep the ban for another month at least. The bans should be extened to Italy and Korea. If there is economic fallout then mitigate it with fiscal stimulus.

Nan and Pop had better start praying:

Better still, get themselves a medical lobby, the only religion Morrison really listens to.

David Llewellyn-Smith
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Comments

  1. BoomToBustMEMBER

    Easiest way to remove negative gearing and the cost to the budget is to remove those claiming it from the planet, seems logical to me.

    • darklydrawlMEMBER

      Seems like they are looking to offset pension costs if nothing else…. I am sure some dolt has already done the maths and presented it to the Grubbermint (# of likely dead / cost to the health care system vs savings in pensions / welfare payments due to said deaths vs economic gain by keeping the population ponzi going).

  2. “At the same time, Mr Morrison hinted that the travel ban in place for China could be lifted earlier than anticipated when he spoke of the resounding success of Australia in keep the disease at bay so far.”
    Haven’t we kept it at bay by stopping it arriving?

  3. Mr Morrison said 30,000 Australian citizens, residents and immediate family members had entered Australia from China since the travel ban was imposed on February 1 and the self-isolation under which they quarantined themselves for 14 days had resulted in no human-to-human transfer of the disease.

    The incubation period is now determined at 27 days. Assuming a Poisson distribution, and a 10% infection rate, we have around 900 Corona virus carriers in Australia already!

    As well as the university and tourism sectors which have been directly affected, he said building and manufacturing were hurting

    Translation: our lobbyists are losing money, which means the LNP might get fewer donations – so it’s time for Aussie battlers to take one for the team!

    • There is only one single case of 27 days, and it’s from the person’s own recollection of visiting his sister in Wuhan. He may have been infected after visiting his sister, but we simply don’t know.

  4. Think we’ll have the same situation as Korea soon.

    Feb 17 : South Korean President Moon says economy is suffering because of “overblown fear and anxiety” about coronavirus, asks people to trust quarantine measures and to resume daily activities – Yonhap

    Feb 23: BREAKING: South Korean President Moon says local officials should not hesitate to take “unprecedented” and “powerful” measures to stop coronavirus – Yonhap

  5. BoomToBustMEMBER

    If anyone has been to their local public hospital pre-BatFlu they may have noticed how long you would wait to be seen generally, ie many many hours wait. They say our public hospitals are in good shape and ready, I counter that even the smallest of outbreaks is going to over load our system very quickly.

  6. Is it just me who thinks that just 30,000 “ Australians “ from China is waaaay too many .

    Let alone a couple of million. It’s fvcking ridiculous…..how did this come about ?

    • How many ‘dual citizens’ did we evacuate.

      If we have another bushfire crisis, can my dual citizen kids (Aus / UK passports) ask the UK to evacuate us even though we are also Australian citizens?

      Just crazy that we also let ‘residents’ (i.e. not citizens) access taxpayer funds to get out of Hankow.

    • You can become PR after living in the country for 4 years. That is one undergraduate degree. Never have had to work, pay taxes etc. PR is basically given out like candy.
      Citizenship only takes one more year.

  7. Wow ASX stocks are holding up pretty well considering … I think there is enormous downside risk currently given the lofty P/E’s of the ASX and the disruptions that COVID will bring in months/quarters ahead…

  8. That scribbling from the bunker, it’s Scotty’s dirt team, blaming any coronavirus epidemic on Labor.

  9. I wonder what will happen to the Private Health system when all the rich oldies get sick and they don’t want to go to the overcrowded public hospital, so they front up to a Private hospital for a 2+ week stay and Insurers start getting the bill.

  10. Goldstandard1MEMBER

    How the hell would you know SCOMO? Nobody is testing for it!
    No test, no positive results. This thing is already everywhere.

  11. Ha ha! Open teh gates and lower teh rates! Everyone deserves a go! Scotty from Marketing said so.

  12. The only way Scottyfrommarketing spins this is if he is tough on the borders.
    That’s what all the quiet Australians are telling me.
    Inaudibly mind you