Recovery will take a long time – smart stimulus and support are the way to go

  • Person budgetting
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Following the release of the COVID-19 Fiscal and Economic Review this morning, Queensland Council of Social Service (QCOSS) CEO Aimee McVeigh says decisive action taken at the start of the crisis by the state government saved jobs and cushioned the blow for Queensland families.

“In Queensland, the government stepped up and spent money on our frontline services, which responded to the immediate needs of people impacted by the crisis,” Ms McVeigh says.

“These investments have meant the impact on all Queenslanders was not as severe as it could have been, and those who needed assistance – whether that be with their mental health, fleeing domestic and family violence, or accessing other support services – could access help.

“In an economic crisis, we need government spending on measures that will support the financial wellbeing of Queenslanders, create jobs and ensure support is there for those who need it.

“Smart stimulus and ongoing support for people deeply impacted by the crisis is what is needed now to ensure that economic recovery is for all Queenslanders,” says Ms McVeigh.

The Fiscal and Economic Review released today forecasts unemployment to peak at 9 per cent in December 2020, and then reduce to 8 per cent in June 2021. Ms McVeigh says this shows that economic recovery will be a slow process.

“What’s clear from today’s forecasts is that the economy will not simply snap back, and hundreds of thousands of Queenslanders will still be without a job in nine months’ time.

“That’s why the Queensland government must invest in jobs-rich stimulus that will have significant positive impacts on low-income households

“We look forward to seeing what new projects the state government announce over the coming weeks as part of the $4 billion in new stimulus spending revealed today.

“QCOSS has several suggestions like building social housing, retrofitting homes with energy-efficient appliances for lower energy bills and increasing funding for social services that are in high demand during this public health crisis.”

7 September 2020 |Focus area: ,