Melbourne's revived lockdown and border closure is set to cost Victoria's economy as much as $2 billion a week, delay business investment and snuff out the recovery in the jobs market.
As Victorian Premier Daniel Andrews ordered 5.1 million Melburnians to stay home for six weeks, economists said it would force the Morrison government to recast its planned July 23 economic statement, which will include details on the next phase of the JobKeeper wage subsidy scheme.
Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
