IT SEEMS that they are following the modern economic crisis playbook, where the focus is on ensuring that liquidity is maintained and money keeps flowing through the economy.
The measures to support businesses and sole proprietors will be enough to keep many on life support for long enough to hopefully outlive COVID-19 or for a vaccine to be widely available.
However, given the rusty state of the health systems of many of our regional neighbours, I’m not sure whether the proposed nine months of support will be long enough.
I grieve for those businesses reliant on tourists, travel and the free movement of people. They are not going to survive.
Mike Hagbeck is a Director of StorHub.
Here are the links to all the Friday Focus articles on The Resilience Budget:
- Impressive…But Wait For The Details
- Unexpected Support
- Time To Prioritise
- Keep The Money Flowing
- A Generous Helping Hand
- Some Questions Unanswered
- What About The Hardworking Foreigners?
- Cash Is King
- Living Day To Day
- Mind The Gaps!