Question

Assignment Task Two (300 words - 7 marks)

The coronavirus intervened Australia in early 2020.

On 12 May, the Morrison government issued an unprecedented progress report on the delayed budget, outlining the coronavirus pounding to the national economy and the huge outlay to deal with the pandemic.

What were the main issues presented? How do you think they would affect the economy, social and employment situation in the near future?

Answer 1

On 12th May unprecedented progress report by Morrison government covered some of the important issues related to economic growth, economic position, and future perspective and planning. some of the issues are:

1.No smooth recovery from the hit of a pandemic like a coronavirus.

2. Difficulties in the distribution of stimulus package of $320 bn for safety measure.

3. The economy already started experiencing a recession through a loss in tax revenue of $4bn, so it leads to a more intensive economic recession.

4. the business wants removal of restrictions on the state borders and international borders to smoothen the business.

So from this summery presentation we can figure out that the economic social and employment situation got hitted by the pandemic. economy will be in a slugish mode as the production transportation and other fuel of economy got stuck due to coronavirus. so definitely for nex one year it will take to get back to a better condition.

In terms of social as the distancing is a priority so the social distancing with physical one is recomoned. so it has a indirect negative impact on the economy. It leads to a stagnant status in social activities.

Due to pandemic labors are in fear and the level of unemployment increase as many of them lost their jobs. it will take more time to set the industry back to its original production and setting the labours to be employed.