Only a few months ago Frydenberg expected to deliver a surplus in a budget that would https://www.nextshores.com have been brought down this Tuesday.As people start to hit the shops, the largest single increase in monthly GDP from the three stage easing is $2.9 billion expected to come from improved demand.This is followed by $2.18 billion from schools opening, which allows more parents to return to work. The big number is one reason why Scott Morrison has been so strong on the need for schools to return to normal.Victorian premier Daniel Andrews, the most conservative of the premiers on schools as well as other restrictions, is due to provide an update on Victoria schools reopening.The coming weeks will be a delicate balance between the health and economic issues as restrictions are eased.There is mounting impatience from some parts of business to move things faster, especially in Victoria.Deputy chief medical officer Paul Kelly warns of second wave riskBut Deputy chief medical officer Paul Kelly told The Conversation on Monday “there is a very large risk of a second wave”.Kelly said if a second wave developed there was the option of reintroducing some restrictions, though that could be “in a very measured and localised way” to deal with outbreaks, even if they were large.Scott Morrison has made it clear he doesn’t want restrictions to have to be reimposed.According to the government’s figures if NSW, instead of lifting restrictions, had to go back to those in place before the May 8 national cabinet meeting, it would cost its economy about $1.4 billion per week.Frydenberg will say the government debt incurred to get the country through the recovery “will take many years to repay”, while indicating there has to be a limit to government support.”Rebuilding consumer and business confidence will be key as the nation’s finances can only be sustained by a strong and growing market led economy. Australians know there is no money tree.
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