The Government has forked out a record amount of financial assistance during the coronavirus pandemic, but how does it compare to spending on other natural, man-made or economic disasters?
While some of the COVID-19 schemes and their estimated costs are demand driven, the money spent on them still far surpasses what the Commonwealth has spent in response to other defining events that have shaped the country, such as 1974's Cyclone Tracy and 2020's bushfire recovery.
| Amount | Event | Year |
| $70 billion | JobKeeper | 2020 |
| $17.6 billion | Original coronavirus stimulus | 2020 |
| $14.1 billion | JobSeeker unemployment payment | 2020 |
| $2.8 billion | Apprenticeship wage subsidies | 2020 |
| $2.3 billion | Childcare assistance | 2020 |
| $715 million | Airline support package | 2020 |
| $688 million | HomeBuilder | 2020 |
| $500 million | JobTrainer | 2020 |
| $250 million | Arts package | 2020 |
| $2 billion | Bushfire recovery | 2020 |
| $3.3 billion | North Queensland floods | 2019 |
| $69.1 million | Cyclone Debbie | 2017 |
| $419 million | Cyclone Yasi | 2011 |
| $566 million | Black Saturday bushfires | 2009 |
| $52 billion | Global financial crisis | 2008/09 |
| $628 million | Gun buyback | 1997 |
| $110 million | Newcastle earthquake | 1989 |
| $188 million | Cyclone Tracy | 1974 |
Added together, these coronavirus measures equate to around $108.9 billion, but the total estimated by the Government, which takes into account other supports like cash flow boosts for businesses, is greater than $135 billion.
It dwarfs any other previous spending — JobKeeper on its own is the single largest piece of government spending in Australian history.
While it and the boosted JobSeeker rate are set to end in September, forecasts are that support will be needed for months into the future.
Federal Treasurer Josh Frydenberg estimated the shutdown caused by the pandemic cost the economy $4 billion a week, and Victoria's second lockdown would cost around $1 billion a week.
The Treasurer will deliver a mini-budget update on July 23 where he will outline the Government's plan for financial support post-September, including industry-specific packages for areas like tourism, which are still bearing the brunt of nationwide restrictions and international border closures.
As part of the update, the JobSeeker rate is expected to be increased in recognition that the jobless rate is likely to remain uncomfortably high for some time yet.
Even with the current supports, 835,000 people have lost their jobs since March, a figure experts say would be much larger if it included the number of people who have given up looking for work.
Credits:
- Reporting: Georgia Hitch
- Design: Emma Machan
- Production: Andrew Kesper
