Tuesday’s monthly meeting involved an excellent speaker and a good attendance of nearly 30. Mark Cochrane-Holley from the economic strategy department of Melbourne City Council spoke on the disastrous impact of Covid on the city, which will soon become the most locked-down city in the world, ahead of Buenos Aires. Mark said this recession will largely be a central city recession, with Melbourne CBD bearing the brunt.
This recession is forecast to be sharper and deeper than any observed since Australia has collected consistent economic data.
The city’s economy will be about $23.5 billion – or 22 per cent - smaller and with a cumulative reduction of up to $110 billion in municipal output compared to pre-COVID estimates over the next five years.
Over five years, there will be up to 79,000 fewer jobs than pre-COVID forecasts as an annual average, he said.
President Mel than announced club event planning in the run up to Christmas:
- Footy tipping contest for the grand final with a Zoom “pleasant Friday afternoon” catch up on the Friday before the grand final to discuss the footy or anything else over a few drinks (thanks to the Wine Group for being happy to combine this with their regular get together)
- A sweep for the Melbourne Cup and a face to face or Zoom catchup for a few champagnes and fascinators whilst we watch the cup
- A Christmas party on evening of Tuesday 14th December, hopefully face to face.
PLEASE LOOK OUT FOR THESE EVENTS ON YOUR EMAILS AND THE WEBSITE.
Please look at all communication channels, FB, website, email to keep on top of all the events that are happening (because there is a lot!!).
Tony advised sadly that our long-awaited Moulin Rouge show for 24 on September 29 has been cancelled by the theatre. Our $3000 booking will be refunded to members soon via Treasurer Mike.