Josh Frydenberg struggles to get through economic update because of coughing fit

Josh Frydenberg gave a key speech on the economic impact of the COVID-19 crisis – but all anyone noticed was his “worrying” cough.

Treasurer Josh Frydenberg has struggled through an important economic update today, sparking fears about his health.

While delivering a ministerial statement on the economic impact of the coronavirus crisis, Mr Frydenberg repeatedly coughed and spluttered, and paused for a drink of water several times.

At one point, he even joked his voice might be cutting out because his speech was “too long”.

“Luckily I’ve got some water. Too long a speech …. It’s all right … My voice has gone now,” he said.

Unsurprisingly, the fact the Treasurer was clearly showing flu-like symptoms while delivering a speech on the coronavirus sparked wild speculation on social media, with many Twitter users urging Mr Frydenberg to seek medical help.

“Josh, get tested directly after the speech, and self isolate!” one Twitter user wrote, while another said: “Someone should probably sanitise that dispatch box after Josh Frydenberg is done, just in case.”

“OMG Josh Frydenberg coughing his way through his outline of the Economic Impact of coronavirus is worrying. Did no one tell him not to rub his nose or cough into his hand?” another asked.

“Is Josh Frydenberg OK? This fiscal announcement is much more dramatic than intended,” another said.

Mr Frydenberg also coughed during an appearance on A Current Affair rlast Tuesday, raising eyebrows at the time.

Those who were able to focus on something other than Mr Frydenberg’s cough would have noticed a strong of catastrophic figures proving just how devastating COVID-19 has been for the Australian economy.

“In Australia, Treasury is forecasting GDP to fall by over 10 per cent in the June quarter, which would represent our biggest fall on record. At $50 billion, this is a loss equivalent to the total quarterly production of South Australia, Tasmania, the Northern Territory and the ACT,” the treasurer said.

“Treasury is forecasting the unemployment rate to reach around 10 per cent or 1.4 million unemployed in the June quarter. The 5 percentage point increase in the unemployment rate is expected to occur over three months, compared to the three years it took to unemployment rate to rise by the same amount in that devastating period of the early 1990s.

“Household consumption and business and dwelling investment are all forecast by Treasury to fall sharply in the June quarter. The combination of social distancing, lower incomes, and increased uncertainty are weighing heavily on aggregate demand and flowing through to reduced cashflow.”

Treasurer Josh Frydenberg had to pause several times to clear his throat. Picture: Sam Mooy/Getty Images

Mr Frydenberg said household consumption was expected to be around 16 per cent lower and business investment and dwelling investment both around 18 per cent lower.

“Overall, the economic data has been sobering. In March, business and consumer confidence saw the largest declines on record. The ASX 200 lost more than a third of its value in just over four weeks,” he said.

“In April, surveys showed that job ads halved and activity in the construction, manufacturing and the services sector had their largest ever monthly falls. New motor vehicle sales fell by 48 per cent through the year, their largest ever fall. House sales fell by 40 per cent. Domestic and international air travel is down by more than 97 per cent, with nearly 40,000 passengers moving through Brisbane Airport on Easter Sunday last year, compared to just 31 passengers this year.”

He said the number of jobs decreased by 7.5 per cent from March 14 to April 18, while the wages bill paid by businesses decreased by 8.2 per cent.

An updated economic and fiscal outlook will be provided in June, and the budget, which was due to be delivered today before being pushed aside by the pandemic, will now be released in October.