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Over the weekend, Australia’s private hospitals threatened to shut, axing up to 100,000 staff, unless they receive a government bail-out:
Australian private and Catholic hospitals are about to be closed and their staff stood down putting 100,000 workers out of a job right as the hospital system is about to buckle under the weight of coronavirus admissions.
The catastrophe is the result of a failure of state and federal governments to come up with a financial solution for the hospitals after they banned non-elective surgery at a national cabinet meeting earlier this week.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.