The Daily Breakdown

GIGO - the experts' $60 bn input error


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The $60 billion JobKeeper screw-up was the result of two input errors: the ATO and Treasury estimated more businesses would need help than actually did, and they based their errors on the pessimistic forecast of epidemiologists like Dr Brendan Murphy who predicted Australia would become Italy. It wasn't bad policy. It was bad data. Garbage in-garbage out. And the story of COVID-19 has been the failure of experts to be right, starting with Neil Ferguson.
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The Daily BreakdownBy Daily Breakdown