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NSW lockdown costs economy at least $16b
Haircuts that'll never happen, purchases that can't happen yet and other spending halted under NSW's lockdown are contributing to a 10 per cent contraction of the state economy. NSW Treasury estimates the direct cost of restrictions on mobility and gathering was about $1.3 billion a week at the end of July - when most of regional NSW was yet to experience any lockdown. Construction had also recently returned from a two-week closure, which Business NSW says may have cost as much as $1.4 billion on its own. "This lockdown is much more severe and is having a larger economic impact on businesses than the first ... (full story)
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