Treasurer Josh Frydenberg says second lockdown would cost more than $4 billion a week

Treasurer Josh Frydenberg says the economy will expand by nearly $10 billion a month once COVID-19 restrictions are lifted, but he's warned Australians of the huge cost if a second lockdown is needed. Mr Frydenberg was originally scheduled to deliver his second budget tonight, but instead outlined the massive impact to the economy of the coronavirus pandemic. Calling it a 'one in a hundred year event' that has put the Australian way of life on hold, the treasurer said COVID-19 was a health and economic shock, the likes of which the world has never seen.