COVID-19 economic crisis will be most ‘far reaching and catastrophic’ since Depression

COVID-19 economic crisis will be most ‘far reaching and catastrophic’ since Depression

Sky News contributor Campbell Newman says among the reforms Australia needs to implement to kick start the economy after COVID-19 is environmental reform with the “prime objective being reliable, and affordable energy”.

Mr Newman said this will be achieved “via our newfound bipartisanship” which has seen state and federal governments from both parties come together to form the National Cabinet, and economic stimulus packages passed in Parliament with support from all major parties.

“The Federal Environment Act needs to be amended to ensure that the environment is protected, but projects can achieve approvals within reasonable time frames,” he said.

Education reform is a necessity in the post-COVID-19 economy with the “cultural and funding bias against vocational education [needing] to be eliminated”.

Mr Newman also suggested broad economic reforms are required which would focus on “eliminating burdensome regulation, increasing competition and generating real wages growth for workers”.

“COVID-19 may have started as a health crisis but the economic crisis is more far reaching and catastrophic than any downturn since the Great Depression”.

Image: Getty

Leave a Reply

Your email address will not be published. Required fields are marked *