Top end of town backs PM’s restart plan

Moves described as a good start, but acknowledge there’s still a long way to go.

Australian Prime Minister Scott Morrison. Picture: AAP

Corporate Australia has praised the Morrison government’s three-stage roadmap to reopen the economy by July, but warned that there’s a long journey still to come.

On Friday afternoon, several corporate heavyweights released statements applauding Prime Minister Scott Morrison’s announcement, which outlined the steps which would see Australia incrementally return to normal.

NAB chief executive Ross McEwan welcomed the National Cabinet’s restart plan, saying it was “heartening” to see Australians doing the right thing.

NAB Chief Executive Officer Ross McEwan. Picture: AAP

“We’re now ready to take the first steps forward and I fully back the federal government’s safe and steady approach to getting jobs and businesses back on track. We look forward to hearing from the state and territory governments on the timing of the new measures,” Mr McEwan said.

“There’s still a long way to go and we must preserve the gains made on the health front.”

The Australian Investment Council also lauded the plan, but chief executive Yasser El-Ansary said a “carefully calibrated” economic recovery plan would be required to navigate the period ahead.

Yasser El-Ansary.

“But it is becoming clear now that the aggressive steps taken to shut-down key sectors of the economy have quickly delivered the desired public health outcomes that we all wanted,” Mr El-Ansary said.

“The fact that Australia is beginning to plan for recovery and putting in place this three-step plan is a significant positive for our entire community, and all businesses – there aren’t many countries around the world fortunate to be in this position right now.”

While commending the decision, Paul Zahra, chief executive of the Australian Retailers Association said the “overall mood remained cautious” among the $325bn retail sector, and warned consumers that hygiene measures would be a “regular feature for some time”.

“Retail is a bellwether for the overall economy - when retail is firing, the economy is firing,” Mr Zahra said.

Paul Zahra. Picture: Britta Campion

“And while we anticipate a slow path to recovery, today’s announcement gives retailers who are planning to reopen the clarity they needed to proceed with confidence.”

Earlier on Friday, Mr Morrison said the national cabinet had settled on reopening the economy with a “clear plan, and a clear framework”, and would meet every three weeks to review progress.

“There will be outbreaks, there will be more cases, there will be setbacks. Not everything will go to plan ... But we cannot allow our fear of going backwards from stopping us from going forwards,” Mr Morrison said.

“You know, you can stay under the doona forever and you’ll never face any danger, but we’ve gotta get out from under the doona at some time.”