Victorian Treasurer unveils $6b emergency stimulus package

Friday 10 July 2020

Victoria has received a grim economic forecast as it heads back into lockdown after the Andrews government reimposed stage three COVID-19 restrictions.

State Treasurer Tim Pallas said the unemployment rate was expected to peak at 11% per cent with an extra 270,000 people unemployed after being revised up from 9%.

Pallas has also revealed additional elements of a $6 billion support package to support Victorian businesses.

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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.