COVID-19: banks are here to help.
14 October 2021
As essential services, Australia’s banks have focussed, throughout the COVID-19 pandemic, on keeping their staff and customers safe.
Safety measures have included:
- Maintaining social distancing in branches and workplaces
- Installing protective screens and supplying PPE to staff
- Facilitating work from home where possible
ABA member banks also recognise that vaccination is a critical measure to protect against COVID-19 and are actively encouraging and supporting their staff to get vaccinated, including with the provision of paid leave for staff to access vaccinations and, in some locations, undertaking employer vaccination and testing programs.
After further industry discussions, individual banks have considered their next steps and will be undertaking appropriate consultation with their staff on an entity by entity basis.
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The ABA acknowledges the release of the 2025-26 Mid-Year Economic and Fiscal Outlook. The Government’s forecasted $8.4 billion reduction in the deficit over the forward estimates including a $5.4 billion reduction for year’s deficit is welcome. Lower deficits and claimed savings of $20 billion over the next four years is a beginning towards ensuring our national finances are on a more sustainable footing. While this Budget update contains lower forecasts of spending as a share of GDP, the ABA notes the importance of ongoing spending restraint to help reduce inflationary and interest rate pressures. Banks… Read more »
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