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4 mins ago
Coronavirus pandemic leads Australia into recession for the first time in 29 years
By Angus Watson
Australia is entering its first recession in nearly three decades, largely due to the economic impact of the covid-19 pandemic, treasurer Josh Frydenberg said Wednesday.
The nation's economy contracted 0.3% in the first three months of this year, according to the Australian Bureau of Statistics. Frydenberg said he expected the figures for the second quarter of 2020 to be worse.
When asked at a press conference on Wednesday whether Australia is in a recession, Frydenberg replied, "Yes, and that is based on my advice from the Treasury Department on where the June quarter is expected to be."
Experts say Australia was able to weather other serious global financial crises thanks to a combination of steady population growth, rising exports and the growing importance of its service economy.
Frydenberg recognized the confinement by covid-19 as the end of a 29-year career of economic growth in Australia, but praised his government's economic stimulus measures. "We have avoided the economic fate and health destiny of other nations because of the measures," he said.
10 mins ago
UK government defends 14-day quarantine for travelers
By Simon Cullen
UK Home Secretary Priti Patel and Transport Secretary Grant Shapps defended their decision to require that all travelers entering the UK from abroad undergo 14 days of quarantine, a move that industries Travel and tourism officials believe it could discourage visitors from traveling to the country.
Airlines and vacation companies have been campaigning against the policy, which will begin on Monday. Some government lawmakers also criticize the new rules.
Patel and Shapps, however, warned that the UK "will suffer if we make a mistake and that is why it is crucial that we introduce these measures now."
“Let's not discount our progress in the fight against this deadly virus. We owe it to the thousands who died, ”the two wrote in an opinion piece published in the Telegraph newspaper. "We are working with the transportation industry to see how we can establish agreements with other countries when it is safe to do so, so that we can go abroad and tourists can come here."
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