According to new modelling by The McKell Institute, the cost of the government’s delay in rolling out the Covid-19 vaccine to the Australian population is estimated to exceed $1.4 billion.
Reportedly, the earliest measure of herd immunity (65% vaccination rate) in Australia would have been reached by August 2021, had there been no delays to the Morrison Government’s initial Covid-19 Vaccine Roadmap plan.
However, it’s said that the delays have now blown this out, increasing the chances of further lockdowns and restrictions.
Even if Australia instantly picks up its vaccination rollout rate to that of the UK, according to the new modelling report, ‘Counting the cost of Australia’s delayed vaccine rollout’, herd immunity would still be delayed by 116 days from the Morrison Government’s original projection.
Reportedly, on this projection, Australia could expect 11.1 days of lockdown in the extra period, which would reportedly cost the economy some $1.368 billion.
“These delays will increase the chance of lockdowns and the economic costs that come with them,” says The McKell Institute’s Executive Director, Michael Buckland, adding that it is “critical to lay the hard facts on the table”.
“It’s vital we are clear sighted about the cost and impact of a government’s action or inaction.
“Just as it was correct for the government to measure the economic impact of state lockdowns, so too should the government embrace the publication of clear information about the economic impact of its vaccination rollout program.
“Australia’s vaccination program has failed to meet its targets and it’s incomprehensible that we will catch up. Our leaders need to accept the additional risks of delay and act.
“Additional support measures for vulnerable people and businesses must be considered in response to the delay,” says Mr Buckland.
To read the full report, click here: Counting the cost of Australia’s delayed vaccine rollout.
