Coronavirus update live: RBA says Australia faces biggest contraction since Great Depression – latest news

As Australia’s infection rate falls, state and federal leaders have lifted some Covid-19 restrictions on elective surgery at meeting on Tuesday. Follow all the latest news, live

8.05am BST

Queensland Senator Matt Canavan has also been commenting on the crisis facing Virgin Australia. The former resources minister reckons the government should “get its hands dirty.”

We saw in Central Queensland a few years ago when Virgin pulled out of a route to a mining town, prices went up 30% after they pulled out. We just went back to Qantas and I don’t want to see that happen. That is why I’m a strong advocate for the government to get involved, get its hands dirty, and find a way forward.

We don’t want to spend billions of taxpayer money to prop up shareholders who had made bad decisions in the past, in this case foreign shareholders, so we should focus on protecting Australian jobs, maintaining competition in Airservices and there is a window of opportunity to do that while we work through the issues with Virgin going forward.

8.01am BST

Cricket Australia is looking at its calendar for the coming year, including hosting the T20 World Cup scheduled for October and a visit in November of India for a test series.

If India don’t come due to continued Covid-19 impacts, then the cricket authority thinks it could be looking at “hundreds of millions” in losses.

Related: Cricket Australia could lose ‘hundreds of millions of dollars’ in coronavirus crisis

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