The housing sector is one of Australia's most economically crucial industries and employees one million people, but it's in trouble due to coronavirus.
The economic consequences of COVID-19 are feared to hit housing hard, with calls growing for urgent government intervention.
That topic was one of several to dominant Tuesday's headlines.
Queensland mining magnate Clive Palmer revealing a huge purchase of 33 million doses of an anti-malaria medication, touting it as a hoped coronavirus treatment.
An inquiry into the government's handling of the coronavirus crisis heard that only a fraction of the $200 billion of support funds has flowed so far.
It comes as a Sydney nursing home plagued by COVID-19 announced the deaths of another four residents since last night, bringing the death toll to 11.
And elsewhere, multiple states confirmed their plans to begin relaxing some social distancing restrictions. Although, not all jurisdictions are on board.
Australia has now recorded 6732 confirmed cases of COVID-19, including 3009 in New South Wales, 1351 in Victoria, 1033 in Queensland, 438 in South Australia, 550 in Western Australia, 218 in Tasmania, 106 in the Australian Capital Territory and 28 in the Northern Territory.
A total of 88 deaths have been recorded nationally.
Updates
Four new cases in Tasmania
Health authorities in Tasmania have confirmed four new cases of coronavirus since last night.
Dr Mark Veitch, the state’s Director of Public Health, said three of the cases are in the outbreak hotspot northwest region, with the fourth in the north.
“Three of the cases are women, one is a man,” Dr Veitch said.
“One is aged in their 20s, one is in their 40s, one is in their 50s and one is in their 60s. “Three cases are healthcare workers from the North West, and one is a close contact of a confirmed case from the northwest.”
How to save one million jobs
One of Australia’s most significant sectors is at serious risk due to the coronavirus crisis and subsequent economic downturn.
And the Opposition is stepping up its calls for urgent government intervention, warning that existing support measures won’t be enough.
Labor’s housing spokesman Jason Clare was on Sky News today where he spoke about the dire outlook for the construction industry.
Prior to the coronavirus outbreak, the housing sector was projected to build 160,000 new dwellings over the course of the year.
That figure has now slumped to 100,000, with fears it could fall further – especially if headline figures like 10 per cent unemployment eventuate.
“If that happens, it’ll mean lots of job losses for tradies and small mum and dad businesses who work in the housing game,” Mr Clare said.
Labor last week called for the National Cabinet to devise a strategy to support the sector, which is a major economic contributor.
JobKeeper, designed to support employers to keep staff on the books, will have expired by the time the worst of the economic hit is being felt by the sector, Mr Clare said.
“The housing industry employs about one million people. Everything from electricians, carpenters, plumbers, bricklayers, tilers all the way through to the businesses that produce cement, the timber, the plasterboard – the whole box and dice.”
Mr Clare suggested a nation-building program to support the sector, saying it’s happened before.
“Whenever we’ve had a big crisis – thank about after World War II – it involved building houses to build the recovery.
“The US did it after the Great Depression as well. So, we need to be thinking now about recovery and a strong housing industry with tradies not losing their jobs is a big part of that.”
The New South Wales Government today announced a major program of 24 fast-tracked infrastructure projects designed to stimulate the construction industry, including new housing as well as schools and a university campus.
The total value of the package is more than $7 billion.
“If the state governments around the country are starting to think of ideas to make sure these tradies keep their jobs, and these mum and dad businesses don’t hit the wall, then that’s a good thing,” Mr Clare said.
'Worse than the Depression'
Businesses and jobs will be lost permanently because of the coronavirus crisis, which has caused a much faster economic shock than the Great Depression.
Treasury predicts unemployment to peak at 10 per cent as a result of the pandemic, with some businesses expected to go under.
The jobless rate was higher during the economic devastation through the 1930s, but the numbers steadily rose over the course of years rather than months.
Treasury boss Steven Kennedy said the disease is having an unprecedented impact on economies worldwide.
"We have never seen an economic shock of this speed, magnitude and shape, reflecting that this is both a significant demand and supply shock," he told a Senate committee in Canberra on Tuesday.
He said the world economy could change in important and sustained ways after the shock of the virus subsides.
"Some jobs and businesses will have been lost permanently," Dr Kennedy said.
AAP
Clive Palmer's bizarre virus ad
Billionaire and failed prime ministerial hopeful Clive Palmer has taken out a massive newspaper ad to reveal he’s stocked up on a controversial coronavirus ‘treatment’.
The mining magnate detailed his purchase of almost 33 million doses of hydroxychloroquine, which is an anti-malaria drug.
It’s the same drug that US President Donald Trump touted as a possible treatment for COVID-19, but which has attracted significant warnings from medical experts.
In a three-page ad in the Herald Sun newspaper in Melbourne, Mr Palmer said he had formed The Palmer Foundation and bought the drugs “for Australians”.
"The Palmer Foundation has acquired 32.9 million doses of hydroxychloroquine for treating Australians free of charge," the ad read.
In the text, hydroxychloroquine was described as “Australia’s best hope for COVID-19 sufferers”.
"Part of this is a significant quantity of the active pharmaceutical ingredient which will enable the manufacture of the tablets right here in Australia."
Two weeks ago, Indian scientists conducted a review of seven studies that looked at the use of hydroxychloroquine to treat COVID-19 patients.
The found two studies that suggested the drug may help ease fever, while one suggested it may help coughs clear up.
But overall, the researchers found there was no evidence that it can cure COVID-19, clear up symptoms in a significant way or save lives.
Meanwhile, correspondence published in Nature Medicine today, based on the assessment of 84 patients with COVID-19 treated at a centre in New York, found that most had an altered heart rhythm.
For around one-in-ten patients, it was altered enough to put them at high risk of sudden cardiac death.
The Therapeutic Goods Administration cleared Mr Palmer’s advertisement.
“Assessment of Mr Clive Palmer’s advertisements have been concluded and enforcement action is not warranted,” a TGA spokesman said.
“The information was assessed as not intended to promote the sale of the product.”
There are no approved treatments for COVID-19, although a number of clinical trials are under way – including for hydroxychloroquine.
Coronavirus cash slow to flow
The government has committed a staggering $200 billion to the coronavirus crisis, covering everything from income support payments to small business assistance.
But it emerged today that only a small fraction of that huge sum has been dispersed so far.
A Senate Inquiry into the government’s response to COVID-19 held its second hearing and heard from Treasury officials.
Labor Senator Katy Gallagher is on the committee and expressed her concern that just $10 billion of the $200 billion in direct budget support has “gone out the door” so far.
“We had the Treasury Secretary confirm that Treasury was working on packages from early February, and at this point in time towards the end of April, only $10 billion of that has actually flowed out across the Australian economy, so that concerns us,” Senator Gallagher said.
Senator Gallagher continued: “We also learned that the biggest injection of money into the economy as at this hearing today has actually come from private savings through super.
“So, $6.3 billion has been accessed through the early access to super arrangements. Whereas program components of the cashflow boost and the $750 payments to households (are smaller than) that at around $4 billion.
“We have been constructive, we will continue to be constructive, but where we see issues, where we see there are concerns about the timing and the urgency of the approach, we will also raise them as we did today.”
Appearing before the inquiry today, Treasury Secretary Steven Kennedy defended the pace of disbursement.
“We have never seen an economic shock of this speed, magnitude and shape,” Dr Kennedy said.
“Making billions of dollars of payments within weeks of their announcement, I would regard that as rapid.”
Dr Kennedy expects another $30 billion worth of support to be distributed in the coming month.
Two Queensland cops fined
And more from Queensland – two police officers have been fined for breaching social distancing restrictions.
The sergeant and senior constable from the Southern Region district were each slapped with $1300 fines for attending an “outdoor gathering” in Toowoomba on Sunday, Queensland Police said in a statement.
They were among 12 people in attendance.
"A third person has also been issued with an infringement notice. Investigations are continuing to identify another 12 people believed to have attended the gathering," Queensland Police said.
Polly pinged by police in Queensland
A Queensland politician is in hot water for breaching coronavirus social distancing rules.
Until today, Trevor Watts was the Liberal-National Party’s police and corrective services spokesman, but he’s now gone.
Opposition Leader Deb Frecklington has released a statement confirming she’s accepted Mr Watts’ resignation after he was fined by police for a “gathering” at the weekend.
“I expect the highest standards from my team, especially my shadow ministers,” Ms Frecklington said.
'Barnaby is Barnaby'
Labor politician Joel Fitzgibbon was on 2SM Radio this morning and savaged Barnaby Joyce over the Nationals MP's opposition to the COVIDsafe app.
Mr Joyce was on Sunrise yesterday when he gave a rambling explanation of why he’s not on board with the health tracking effort.
“You know, I live in an area where all the time we have things getting hacked,” he told the Channel 7 program.
“Obviously there’d be people out there trying to decompile the data to recode what they want to re-inject it to try and create man-in-the-middle sites.”
That obviously makes absolutely no sense. But Mr Joyce continued.
“I mean, obviously, McDonald’s can tell you where I am, and this app will tell you who I’m speaking to. And look, it’s a free choice.”
Mr Fitzgibbon rather generously described the comments as Mr Joyce being unable to “articulate his concerns”.
“He threw out these assertions about people hacking into telephones, etcetera. But Barnaby’s problem is, he’d have at least six apps on his phone right now that would expose him more to those sorts of security issues then would, in my view, the coronavirus app.”
Mr Fitzgibbon accused Mr Joyce and other COVIDsafe opponents of engaging in “populism”.
“Barnaby is Barnaby and he always hunts down that four per cent of the votes that the National Party needs to stay relevant in the parliament.”
Ouch.
“I'd do anything reasonable and safe to further stop the spread of the virus to get our lives back to some form of normality, and of course to get the economy going again.”
Newmarch House death toll soars
In terrible news out of Sydney, a coronavirus-plagued nursing home has just released a statement confirming four more residents have died since last night.
Overall, 11 people have now passed away from coronavirus at the facility in Caddens in the city's west in the past two weeks.
Anglicare, which runs the home, said it is "deeply saddened" by the latest deaths.
"We extend our deepest sympathies to these families for the losses they are experiencing," it said.
More than 50 staff and residents have tested positive for COVID-19 since the serious outbreak began, which was sparked when an unwell employee worked for six days before being diagnosed.
"On the best advice available, we know that it will be some weeks before the home is clear of the virus," Anglicare said.
"For those residents with a positive COVID-19 diagnosis, NSW Health has provided the support and guidance of Nepean Blue Mountains Local Area Health Network and an Infectious Diseases Specialist to ensure residents receive the best medical care possible."
The Federal Government was forced to intervene last week when it emerged that Newmarch House was significantly understaffed.
Loved ones of residents voiced their concerns about the quality of care being offered.
"This is a tragic time not only for the families who have lost their loved ones but for other residents and families," Anglicare said.
"It is also taking a deep toll on our staff who cared for and knew these residents and families so well."
Lambie's bizarre app explanation
More from Tasmanian Senator Jacqui Lambie’s interview on ABC just now – she hasn’t downloaded the COVIDsafe app and doesn’t plan to.
But her reasons for steering clear of the health tracking effort were… unclear.
“They don’t have a good track record in the path, the Coalition, with keeping information where it’s supposed to be,” Senator Lambie said. “That’s a bit of a trust issue.”
When pressed, the independent admitted that she hasn’t “signed up” for the app but defended her decision, saying that she’s “in complete lockdown”.
“Trust me, I'm not venturing anywhere.
“I do have the lady that I’m sharing my house with at the moment, she has the app loaded on her phone. We are keeping a very, very close eye on it.”
Her hesitation aside, Senator Lambie that she wants to see more people sign up.
“I would like to see it grow,” she said.
She was pressed on her specific problems with the COVIDsafe app and her explanation was fairly confusing.
“I just think there is way too much of our own information up there, floating around in cyberspace. We have seen cyberattacks going on. That's always… that will be a row for the future.
“In the meantime, you know, to stay politically alive for me, it doesn't take much to do tracing on Jacqui Lambie. Go to her social media. You know?
“So, it is just… how much more information do we have to get out, give out these IT systems. There is information floating everywhere, I think. That is a worry.
“It is also – we have seen information from the government, like I said before, that was basically told it was there for one thing and it's been used for other (purposes) along the way to pass out to other agencies.”
Later in the interview, she added: “I’m just a bit worried about the data.”
Senator Lambie also questioned the 40 per cent figure – that is, Prime Minister Scott Morrison said he wants to see 40 per cent of Australians download and use the app before he’s comfortable easing social distancing restrictions
“Where did the 40 per cent (figure) come from? They flicked it out of the air. I don’t think it’s near enough. In other parts of the world, they are saying you need 80 per cent.”
She revealed that she met with the Prime Minister’s Office today for a briefing about the app but remained unconvinced about the privacy protections promised by the government.
