State and federal leaders will move on Friday to restart the economy as quickly and safely as possible, as new data on the economic cost shows the banks are wearing up to $160 billion in loan payment deferrals while half the nation's workforce is on welfare or wage subsidies.
In one of its most significant meetings so far, the national cabinet will convene on Friday to sign off on the reopening of as many businesses as possible over the next two months.
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Phillip Coorey is the political editor based in Canberra. He is a two-time winner of the Paul Lyneham award for press gallery excellence. Connect with Phillip on Facebook and Twitter. Email Phillip at pcoorey@afr.com
James Frost writes about banking, funds management and superannuation. Based in Melbourne, James has been reporting on specialist business and finance topics for 15 years. Connect with James on Twitter. Email James at james.frost@afr.com
