Mortgages for those stood down need to be frozen indefinitely. Credit card rates need to be cut to mortgage rates. The government is underwriting the banks, the banks need to do their bit. Freezing mortgages would support the property market so that at the end of this, the country is not littered with foreclosed homes. Middle class Australia need to be able to preserve their homes so the recovery can be quick. Australia is not like The USA, you cannot walk away when foreclosed, the bank will chase you into bankruptcy. Bankruptcy and foreclosure protection is needed so people won’t be thrown out of their houses. The welfare system will not cope
Time to issue war bonds as well maybe to fund welfare to those in need.