O75 Public Administration

Economic hit outpaces Great Depression

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Original article by Matthew Cranston, Tom McIlroy
The Australian Financial Review – Page: 8 : 29-Apr-20

Treasury officials have told a parliamentary inquiry that Virgin Australia is not the only company that has sought government assistance due to the coronavirus pandemic. Treasury Secretary Steven Kennedy has warned that some businesses will not recover from the crisis. He also said the expected rapid rise in Australia’s unemployment rate will be unprecedented. The jobless rate is forecast to reach 10 per cent in June; Kennedy noted that while unemployment rose much higher during the Great Depression, it did so over several years.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH

Budget impact may be lessened by quicker recovery

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Original article by Phillip Coorey
The Australian Financial Review – Page: 2 : 29-Apr-20

The federal government is hopeful that Australia’s success in containing the coronavirus will result in the JobKeeper wage subsidy scheme costing far less than the $130bn that has been budgeted. The government had expected about six million workers to access the payment; Treasury secretary Steven Kennedy has told a parliamentary inquiry that there have been 540,000 applications from employers to date, covering about 3.3 million workers. The cost of the JobSeeker package for the unemployed may also end up being less than forecast.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY

L-NP support jumps as Australia responds well to COVID-19 pandemic

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Original article by Roy Morgan
Market Research Update – Page: Online : 29-Apr-20

In the last month support for the L-NP has jumped 4.5% and recovered from a poor response to the summer bushfires, according to the latest Roy Morgan Poll. L-NP 51.5% now leads the ALP 48.5% on a two-party preferred basis following Government’s successful response to COVID-19 with now only a handful of new cases being announced. L-NP support is now significantly higher than their February low of only 45% when voters were not impressed by Prime Minister Scott Morrison and his Government’s handling of the bushfires.

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ROY MORGAN LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY

ANZ-Roy Morgan Consumer Confidence increases for fourth straight week, up 0.8pts to 85.0

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Original article by Roy Morgan
Market Research Update – Page: Online : 29-Apr-20

ANZ-Roy Morgan Australian Consumer Confidence rose 1% to 85.0 in the week to 26 April, although the gain was much smaller than over the prior three weeks. Now 19% (down 1ppt) of Australians say their families are ‘better off’ financially than this time last year, while 40% (down 1ppt) say their families are ‘worse off’ financially. Meanwhile, 30% (down 6ppts) of Australians expect their family to be ‘better off’ financially this time next year, and 22% (down 2ppts) expect to be ‘worse off’ financially. However, just 6% (up 1ppt) expect ‘good times’ for the Australian economy over the next 12 months, while 48% (down 6ppts) expect ‘bad times’. In addition, 25% (down 3ppts) of Australians say now is a ‘good time to buy’ major household items, while 38% (down 9ppts) say now is a ‘bad time to buy’. The four-week moving average for ‘inflation expectations’ fell 0.1ppt to 3.7%. The weekly reading bumped to 3.6% from 3.1%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

1.8 million older Australians have a comorbidity condition putting them at a higher risk from COVID-19

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Original article by Roy Morgan
Market Research Update – Page: Online : 29-Apr-20

Latest Roy Morgan data shows more than 1.8 million Australians aged 70+ (65%) have an existing serious health issue such as high blood pressure, cancer, diabetes, high cholesterol, an irregular heartbeat or heart disease. The New York Department of Health mortality statistics shows those with one of these serious health conditions have a higher risk of dying from COVID-19 coronavirus if they catch it.

CORPORATES
ROY MORGAN LIMITED

COVID-19 movement case study shows supermarket traffic remains steady during pandemic: Melbourne

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Original article by Roy Morgan
Market Research Update – Page: Online : 29-Apr-20

Research firm Roy Morgan has partnered with leading technological innovator UberMedia to analyse movements at specific supermarket locations within Sydney and Melbourne during the coronavirus lockdown. Analysing the movement at Coles Williamstown in Melbourne’s Inner Western suburbs shows panic buying peaking on the weekend before the first restrictions were introduced on Sunday March 15. Visitor numbers have declined gently over the weeks since this peak and are now tracking slightly below average levels of movement seen earlier in the year. In contrast to the Coles in Williamstown, we have noticed sharp drop-offs in movement data for several key locations around Melbourne including the airport, Arts Centre, Botanic Gardens, Chinatown, Federation Square, Flinders Street Station, Museum and Exhibition Buildings, Southern Cross Station, Williamstown Beach Station and the Zoo. There have also been rapid declines in movement data for several key general shopping destinations including Chadstone, Highpoint, Southland, The Glen, Werribee Shopping Centre and Costco Docklands.

CORPORATES
ROY MORGAN LIMITED, UBERMEDIA

COVID-19 movement case study shows supermarket traffic remains steady during pandemic: Sydney

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Original article by Roy Morgan
Market Research Update – Page: Online : 29-Apr-20

A special analysis of movement data in indicative locations around Australia reveals that despite massive drop-offs in movement throughout Sydney and Melbourne, supermarkets have seen only a small impact. Supermarkets have played a key role in the national conversation over the last couple of months as ‘panic buying’ of many essential goods took hold. Research firm Roy Morgan has partnered with leading technological innovator UberMedia to analyse movements at specific supermarket locations within each of the two cities. The results show no significant fall in the number of visitors to some of these supermarkets during the pandemic lockdown compared to January and February. Analysing the movement at Erskineville Woolworths in Sydney’s Inner South-Western suburbs shows high movement in the week restrictions were first introduced in mid-March, and then a slight decline over the next two weeks. However, compared to the emptying out of the city’s major business districts, movement at Erskineville Woolworths remained fairly steady. In other words, whatever changes people have made to their shopping routines, it has not resulted in fewer in-person shoppers. In contrast, we have seen sharp drop-offs in movement data for key Sydney locations including the airport, Central and Redfern Stations, Taronga Zoo, and other shopping centres with high numbers of fashion and other stores that are temporarily closed, such as Westfield Chatswood, Marketplace Leichhardt, Stockland Balgowlah, Westfield Bondi Junction and Westfield Warringah.

CORPORATES
ROY MORGAN LIMITED, UBERMEDIA

Inflation to rise ahead of plunge

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Original article by Matthew Cranston
The Australian Financial Review – Page: 6 : 28-Apr-20

The travel and accommodation sector is likely to be among the hardest hit when inflation data for the March quarter is released on 29 April. The inflation figures will reflect the impact of the bushfires and the early stages of the coronavirus crisis. The market consensus is for a headline inflation rate of 1.9 per cent for the year to March, while the Commonwealth Bank has forecast that inflation will reach two per cent for the first time since mid-2018. However, economists generally expect a negative inflation rate in the June quarter, a view shared by Reserve Bank governor Philip Lowe.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, RESERVE BANK OF AUSTRALIA

Wider impact of virus crisis becoming clearer

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Original article by Robert Gottliebsen
The Australian – Page: 21 : 28-Apr-20

Roy Morgan has revealed that 10.5 million Australians have had their employment circumstances changed by the impact of COVID-19. This includes 3.8 million people who have had their work hours cut, while 670,000 people have been made redundant. Roy Morgan found that three-quarters of sole traders have been impacted by the COVID-19 crisis, but that 46 per cent of people who work for entities with over 1,000 employees have not had their employment affected in some manner by the crisis. Agriculture, transport and storage, and wholesale trade are among the sectors least impacted by the crisis, according to Roy Morgan.

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ROY MORGAN LIMITED

More time to enrol in JobKeeper scheme

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Original article by Maja Garaca Djurdjevic
My Business – Page: Online : 28-Apr-20

More than 400,000 businesses have formally applied for the JobKeeper scheme to date, covering some 2.4 million employees. The Australian Taxation Office has advised that the deadline for applying for the initial phase of the wage subsidy scheme will be extended from 30 April to the end of May. Kate Carnell, the Australian Small Business and Family Enterprise Ombudsman, has urged small businesses that may be eligible to apply for the scheme as soon as possible.

CORPORATES
AUSTRALIAN TAXATION OFFICE