As Morrison unleashes virus, Australia prepares for shut down

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Never waste a good crisis. The great Australian virus scab grab has begun with business. At the AFR:

Peak business groups have demanded the government use the economic downturn being caused by the coronavirus outbreak to unveil a “significant ” investment incentive in the May budget.

The groups elevated their demands for a business investment allowance as senior sources told The Australian Financial Review that the government was now operating on the assumption the crisis could last for the duration of this calendar year.

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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.