"We have never seen an economic shock of this speed, magnitude and shock" The Treasury secretary, Dr Steven Kennedy, is delivering his opening statement to the covid senate committee looking at Australia’s response. He offers up some data – none of it good and all of it pointing to just how hard the next few years will be: In Australia new real-time ABS data show in accommodation and food and arts and recreation services, the number of jobs fell by 25% 6% and 18. 7% respectively over the three weeks between 14 March and 4 April. In the June quarter, we expect to see the unemployment rate rise to around 10%. Unemployment rose to higher levels in the great depression, but it did that over the course of a couple of years. These movements are happening in just a couple of months. We have never seen an economic shock of this speed, magnitude and shock and reflecting this is a significant and demand shock. The supply of goods and services has been badly disrupted by the necessary social distance measures. Demand is being reduced by the associated loss in income and profits and loss of confidence. Australian governments have substantially lessen the economic impact of the social distance measures by acting decisively and early. Victoria reports two Covid-19 cases Two people in Victoria have been diagnosed with Covid-19 in the last 24 hours. Sorry for the incorrect figures on Queensland a little bit ago – they have no new cases – I am watching a lot of press conferences at once, and the way the information is now being presented is a little haphazard because it is no longer those big numbers we had been seeing just a couple of weeks ago. Which is good news. In these extraordinary times, the Guardian’s editorial independence has never been more important. 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The ICA said that “nearly all” insurers have adjusted the triggers for claims so that an eviction notice or notice of arrears is no longer required – an important step given the national cabinet has agreed on a six-month moratorium on evictions. Instead, they’re accepting application forms for government relief programs as evidence of tenants in distress. The ICA said it reminds its members of “community expectations” but doesn’t punish them if they don’t adjust their policies, and nor does it advise them not to sue tenants in arrears for lost rent. Robert Whelan noted that insurers abide by their contracts and “so too should tenants”. Decisions to sue a tenant for rent in arrears are made on a “case-by-case basis”. Queensland reports no new Covid-19 cases Queensland has reported no new people with Covid-19 in the last 24 hours. Liberal senator James Paterson was on Sky News this morning, where he was also asked about China’s “threats”. It’s certainly inappropriate for a diplomat credentialed here in Australia to represent his country to threaten us with economic sanctions or consequences because we are simply pursuing what is in our national interest and frankly, what’s in the interests of the whole world. I mean, who would not want to get to the bottom of the exact origins of the virus? We know it originated in Wuhan, but we don’t know exactly how. I think it’s in the interest of the entire world, in the interest of combating this in the future that we know exactly how it came about. It’s very concerning that the Chinese Communist party thinks it’s inappropriate that Australia would call for such a thing and thinks that it’s completely fine for them to threaten us with economic consequences. Robert Whelan, the chief executive of the Insurance Council of Australia, is giving evidence to the house economics committee about what he called the “worst natural disaster season on record”. In his opening statement, Whelan said Australians made $4.6bn of insurance claims since September above and beyond the normal level of claims, some 242,000 claims for damage to family homes, small businesses, cars and belongings. Of that, some $2.26bn of claims related to the Black Summer bushfires, in which some communities were “virtually wiped out”. Whelan also noted the “severe summer hail storms” that hit Canberra particularly hard. Whelan said insurers support the aims of and are responding to the recommendations of the Hayne royal commission, but adds that it found “no systemic issues with general insurance industry” (earlier, he noted the ICA does not cover the life insurance or private health insurance industries). Clive Palmer took out a three-page ad today, boasting about buying 32,900,000 doses of hydroxychloroquine because he is Clive Palmer and Australia has a Donald Trump-sized hole he loves to do his best to fill. A friend of the blog alerted me to this discussion on Melbourne radio 3AW. Infectious disease experts are not into it. For the record, research is being carried out, but so far, it has been found not to be an effective treatment. Also, DO NOT undergo any drug treatment without talking to a doctor. I know I shouldn’t have to say that, but then again, we know people have started injecting themselves with disinfectant so you can never be too careful. Here is the whole program for that Senate committee hearing today. The select Senate committee which was set up to examine the government’s response to the coronavirus pandemic will meet again today. Treasury is the main guest. Paul Karp will be watching that for you. Malcolm Farr has the latest Essential poll. The usual poll caveats apply. For those who were asking, this is what Anthony Albanese had to say about Mike Kelly’s future when the Labor leader was asked on ABC radio this morning: Fran Kelly: Just finally, Anthony Albanese, there’s many reports that the Labor member in Eden Monaro, Mike Kelly, is about to retire from parliament for ill health. Has he told you he is retiring? Albanese: Look, he is dealing with some health issues, there is no secret in that. And he is not the only member of parliament who has been dealing with health issues in recent times on both sides of the House. And it’s important at times like that, that people’s privacy and their capacity to deal with those health issues is dealt with. Kelly: Are you preparing for a byelection in Eden-Monaro? Albanese: What I’m preparing for is parliament coming back in May. And in terms of Mike Kelly’s health issues, they are well-known. They actually arise from his service in the defence force and his exposure that occurred whilst serving our nation overseas. And that’s deserving of respect and deserving of something better than speculation which has been around for the last year also about Mike Kelly. Swimmers were also back in the water at Bronte and Bondi in Sydney’s east. NSW police have confirmed that NRL players Josh Addo-Carr and Latrell Mitchell are being investigated for firearm breaches after the pair went camping with a group, breaking social distancing rules, and then posted about it on social media. Among those social media posts was the pair shooting firearms. So that is the next investigation. NSW police said everyone was being “very cooperative” though. So there is that. But Anthony Albanese says Labor does hold common ground with the government when it comes to pushing back against China’s threats of consumer retribution to get Australia to back off its calls for an independent inquiry into the origins of the coronavirus, and China’s response. Marise Payne has said Australia will not be cowed by threats of economic coercion. Albanese agrees: I certainly agree with the government’s position on this. This is something that’s certainly not a partisan issue. I think that not just the government, but I think Australians who are currently social distancing, who are not being able to undertake their normal activity in life, have a right to know exactly what happened here. And it’s not just a matter of an academic exercise of someone writing a thesis. This is so that it never happens again. And that’s why we have strongly supported the recommendations not just for an investigation into how this occurred, but also that a body, the obvious one is the World Health Organization, to be given the power to be able to go to a nation state and make inspections in a similar way to which weapons inspectors are empowered to do so. This has had a devastating impact on lives, but also on economies. And it’s important that we do whatever we can to make sure that it doesn’t happen again. And I would have thought that China, along with every nation in the world, has an interest in achieving that. Some heartwarming pictures are coming from Bondi this morning of surfers reclaiming their waves.