Deloitte, EY, KPMG and PwC have united to explain vax returns, the economic benefits of widespread vaccination against COVID.
The professional services firms have launched a national campaign in newspapers -- The Age, Sydney Morning Herald, Financial Review, West Australian, The Australian, Courier Mail, The Advertiser.
Deloitte's Adam Powick, EY’s David Larocca, KPMG’s Andrew Yates and PwC’s Tom Seymour, say while they are fiercely competitive, they all agree that the sooner the 80% vaccination rate is reached, the sooner Australia can get back to business.
The Vax Return initiative highlights the important role businesses play in helping reach vaccination targets, with the firms’ chief economists estimating a $30 billion benefit to the Australian economy in the first three months from business opening up once again.
The COVID-19 pandemic has cost the Australian economy over $170 billion since it began
They say the sooner we get to an acceptable vaccination rate and a safe environment, the sooner we'll return to sustained growth and the opportunities that come with it.
The initiative includes access to information for businesses on the benefits they can unlock when the national vaccination targets are reached.
Adam Powick, CEO Deloitte Australia: "Vaccination is essential if Australia is to emerge as quickly as possible from disruptive cycles of lockdowns and to commence the urgent task of re-opening our country. As a firm and a profession, we are strongly encouraging and supporting our people to get vaccinated and the response to this call has been overwhelmingly positive. We have now come together as a Big 4 group of firms to convey our collective support for the national vaccination program as this is a critically important foundation for the economic and social health of our nation.’
David Larocca, EY OCEANIA CEO: “As much as we all wanted to believe 2021 would be different, COVID continues to present many challenges. The lengthy lockdowns in many parts of our Region, separation from loved ones and impact on lives and livelihoods has been hard. There is light at the end of the tunnel though as we move towards 70 and 80 per cent vaccination rates. Resuming the activities and reconnecting with the people we miss is predicated on achieving these levels of vaccination across the community. I’m fully vaccinated as are my wife Maria and our kids. I strongly encourage those who can, to get vaccinated too so we can all get back to enjoying the freedoms we’ve missed.”
Andrew Yates, CEO KPMG Australia: “It’s great to see light at the end of the lockdown tunnel. I firmly believe it’s overwhelmingly in the best interests of our society that people get vaccinated as soon as possible, and allow our economies to re-open.”
Tom Seymour, PwC Australia CEO: "We've come together to back the national vaccination campaign. Our people are getting vaccinated, they want to get back to our offices and client sites, and get back to normality. Safe reopening will bring significant economic gains for our country- a $30 billion benefit in the first three months. Let's get this done together."
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