If states can’t keep COVID-19 under control the economy will be in trouble, but it’s not a simple trade off. So how do we put a cost on lockdowns?
The introduction of lockdowns and border closures over the threat from the highly infectious UK strain of COVID-19 has triggered another wave of doomsday economic forecasts from industry groups.
Advocacy group Committee for Brisbane this week warned that the cost of an extended lockdown in the city could cost “billions”, although its fears were allayed after the Queensland state government announced on Monday it would ease restrictions.
Tourism operators told The Australian that border closures between Western Australia and other states had smashed confidence. They said national tourism revenue for the holiday period had dropped “at least $3 billion” compared with a year ago, with regions such as far north Queensland losing “$8 million a day”.
