Morrison: No stimulus, will lift travel ban early

Advertisement

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:

Advertisement

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

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.