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Imminent lock-downs to have profound impact for business and economy

The inevitable escalation of measures to control the spread of coronavirus across Australia will have a profound impact on business and the economy for many months to come.

With New South Wales and Victoria now proposing a lock-down of non-essential services within the next 48 hours it is reasonable to assume other states and territories may consider similar measures, in addition to cross-border travel restrictions now in place.

The Prime Minister foreshadowed these moves by bringing forward the next meeting of the National Cabinet to consider further social distancing measures.

“New lock-down measures – while necessary – are going to have an enormous impact on business operations and our personal lives,” said Ken Morrison, Chief Executive of the Property Council.

“These steps are unprecedented, but also completely necessary to control the spread of coronavirus and protect public health.

“Our industry stands ready to help the Commonwealth, state and territory governments in their efforts to control the coronavirus outbreak, as well as support commercial property tenants through these incredibly challenging times.

“It is important for property owners, business and the community to get ready for imminent lockdown measures to be applied on city or region basis.”

The Property Council has strongly endorsed the measures announced by the Commonwealth Government to support households and businesses affected by the coronavirus outbreak.

“It’s essential that individuals and households are helped and that is business supported through the months of economic disruption ahead.

“We need to take every step to be as well placed as we can be to emerge from the other side of this crisis and commence the economic recovery process,” Mr Morrison said.

Source: Property Council of Australia

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