Coronavirus live updates: WHO declares pandemic as Italy introduces stricter measures
Iran’s cases have increased to 9,000; US cases now stand at over 1,000; China reports record lows. Follow the latest.
- What is a pandemic?
- Full story: WHO declares coronavirus pandemic
- US death toll rises to 31 as official warns ‘things will get worse’
- UK cases jump to 456 and eighth Briton dies
The $17.6bn stimulus package revealed by the Australian government this morning has failed to stem losses on the stock exchange, with shares continuing to fall as prime minister Scott Morrison and treasurer Josh Frydenberg detailed the measures.
A market that had fallen by 2% before Morrison began speaking at about 10.35am fell further to be off by almost 3% by 10.50.
Businesses will benefit most from Australia’s stimulus package.
Australian treasurer Josh Frydenberg, who just spoke, said:
The package is worth $17.6 billion, $11 billion of which will go out the door before June 30.
As the Prime Minister said, this is on top of the recent health package we announced of $2.4 billion in measures.
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