Federal government under pressure to provide more financial support to Sydney

The federal government is under pressure to do more to help locked-down Sydney as consumer confidence and spending plunges. According to ANZ data, retail spending nationwide has dropped to its lowest level since April last year which was before the JobKeeper wage subsidy was introduced. The combined lockdowns across New South Wales, Victoria and South Australia were costing Australia’s economy $300 million a day although the figure will improve with the latter two states reopening. However, it cannot be denied consumer confidence has taken a battering as it has dropped 10.4 per cent since mid-June.

from Breaking National News and Australian News | Daily Telegraph https://ift.tt/3f50aDD