I'm sure many are wondering just how much longer can we continue to survive, economically and emotionally, in this never ending unpredictable environment of lockdowns.
Human beings need to be able to plan for the future and have predictability about their world to be okay. At the moment many of us are not okay and our border communities are in a dark tunnel of turmoil that seems to have no end in sight.
The health of our economy is also not okay. Each time another lockdown demands we close our businesses our economy gets weaker. Our focus has to be on getting Australia, particularly small business, back to work. Small business is dying at the hands of the prime minister and our premiers, because their narrow focus excludes our economic security and surety for the future.
Federal COVID financial support packages finished up a few months ago so in some quarters we are yet to feel the real economic pain. There have been many business arrangements put in place that have created a mountain of IOUs and that avalanche is yet to hit us, such as property leasing payments put on hold. Our CBDs are still too empty and the For Lease signs are all around town.
Big business may well be declaring profits at the moment but the same can’t be said for small business. Small business is at the heart of the Australian economy and when it dies so does our economy and our communities. There is much economic pain that has not been captured in the data yet.
Small business needs real support that makes a difference. At this point the most useful contribution that any government can make is to stop these lockdowns and allow Australians to go out and earn a living.
Joining us is Gene Tunny, who is a practical economist whose business is Adept Economics. Gene, practical economists don’t just deal in theory; you deal with the impact on people’s lives of what happens in the economy and what it drive people to do.
Our Nation Today. August 29, 2021
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