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Multi-billion dollar pitfall looms over lockdown debate

Article image for Multi-billion dollar pitfall looms over lockdown debate

A leading economist has advocated for short, sharp lockdowns where needed to avoid the state and nationwide economic impacts of a wider one.

AMP Capital chief economist Shane Oliver told Joe Hildebrand Victoria’s lockdown, which wiped off two per cent of national economic activity, is a “worst case scenario” for NSW.

“If we have to go into something like a three-month lockdown … then we could be knocking, on my estimates, about $12.5 billion off the national economy.

“[The NSW government] are aware of the costs, and they’re doing everything possible to minimise those costs.”

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Image: Getty

Joe Hildebrand
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