NSW Treasurer Matt Kean says a rise in case numbers will contract the NSW economy by 4 per cent.
Kean says he wrote to Treasurer Josh Frydenberg warning the economy will contract further if case numbers rise over the next quarter.
“Yesterday, I wrote to Treasurer Frydenberg, and officially told him that the NSW economy was (facing) a 4 per cent contraction as case numbers go up over the next quarter.”
“This is such a huge burden that will be bought by a small and medium businesses, they need the government’s help now more than ever,” Kean says.
“The NSW government is doing its bit and will continue to call on the Commonwealth to stand by small businesses; don’t step aside from small business.
Frydenberg has dismissed NSW’s calls to chip in on the recovery bill, instead pointing to the $424 billion in household and business savings that he says should be spent back into the economy.
Be the first to comment