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No long-distance travel till 2022 for Australians – and that’s IF POPULATION-WIDE vaccine is rolled out next year, budget predicts – RT

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Australians weary of restrictions are out of luck, as the country’s new budget predicts social distancing will continue for two years and long-distance travel is to remain off-limits until everyone is able to get a Covid-19 jab.

Widespread adoption of a vaccine for the novel coronavirus will be a prerequisite for Australians being able to travel long distances again, according to the country’s new budget that was unveiled on Tuesday. Until that vaccine is rolled out, they can expect social distancing, intermittent lockdowns and a stagnant economy.

It is assumed that over the forecast period material localised outbreaks of COVID19 occur but are largely contained. A populationwide Australian COVID19 vaccination program is assumed to be fully in place by late 2021. General social distancing restrictions are assumed to continue until a vaccine is fully available,” reads the part of the document titled “Key assumptions.




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The budget papers’ attempt to put a positive spin on travel-loving Australians being confined to the continent is to pour $250 million into encouraging anyone feeling wanderlust to explore “their own backyard” – i.e. the rest of Australia. State borders are expected to be open by Christmas, except for Western Australia, which is projected to remain closed until its election in March.

PM Scott Morrison hinted that while long-distance international travel will remain off-limits for the foreseeable future, “our borders will open up at some point to safe locations whether it be New Zealand or parts of the Pacific or places like South Korea or Japan or countries that have had a much higher rate of success” in containing the virus, speaking to reporters on Tuesday.

Overseas travel of any kind is currently banned until December 17, but there are tentative plans in place to create a “travel bubble” with New Zealand that would allow Aussies to visit the neighboring islands by January or February. 

With one in every 13 Australian jobs relying on tourism, the collapse of the industry has hit the nation hard, plunging it into the worst recession since World War II. The budget forecasts a $213.7 billion shortfall – but is nevertheless moving up a pair of tax cuts that were set to take effect in 2022 to July.

Despite optimistic predictions that the vaccine will resurrect the moribund Australian economy, the forecast suggests debt will more than double from last financial year by 2024 – but says this level of red ink is “sustainable” and “low in comparison to most other advanced economies.” 




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Parts of Australia – particularly the state of Victoria – have adopted the harshest coronavirus control measures seen since China lifted its lockdown of Wuhan. Despite a relatively low infection rate compared to countries like the US and UK, Victorian Premier Dan Andrews has earned the nickname ‘Dictator Dan’ for locking down entire public housing complexes, permitting the preemptive arrest of “high-risk persons,” and deploying heavily armed police to break up peaceful gatherings.

Nationwide, PM Morrison told reporters a vaccine rollout would be “as mandatory as you can possibly make it” in August before walking back the comments in the face of criticism. Nevertheless, with a target of 95 percent uptake, it’s expected to be strongly encouraged – particularly if widespread uptake is seen as a requirement to reopen the borders to international travel. The budget papers set a timetable for a late 2021 rollout – after which an extraordinarily-optimistic recovery marked by 4.25 percent growth is expected to take place.

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Netflix’s subscriber growth slows as gains from password-sharing crackdown subside

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Netflix on Thursday reported that its subscriber growth slowed dramatically during the summer, a sign the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off.

The 5.1 million subscribers that Netflix added during the July-September period represented a 42% decline from the total gained during the same time last year. Even so, the company’s revenue and profit rose at a faster pace than analysts had projected, according to FactSet Research.

Netflix ended September with 282.7 million worldwide subscribers — far more than any other streaming service.

The Los Gatos, California, company earned $2.36 billion, or $5.40 per share, a 41% increase from the same time last year. Revenue climbed 15% from a year ago to $9.82 billion. Netflix management predicted the company’s revenue will rise at the same 15% year-over-year pace during the October-December period, slightly than better than analysts have been expecting.

The strong financial performance in the past quarter coupled with the upbeat forecast eclipsed any worries about slowing subscriber growth. Netflix’s stock price surged nearly 4% in extended trading after the numbers came out, building upon a more than 40% increase in the company’s shares so far this year.

The past quarter’s subscriber gains were the lowest posted in any three-month period since the beginning of last year. That drop-off indicates Netflix is shifting to a new phase after reaping the benefits from a ban on the once-rampant practice of sharing account passwords that enabled an estimated 100 million people watch its popular service without paying for it.

The crackdown, triggered by a rare loss of subscribers coming out of the pandemic in 2022, helped Netflix add 57 million subscribers from June 2022 through this June — an average of more than 7 million per quarter, while many of its industry rivals have been struggling as households curbed their discretionary spending.

Netflix’s gains also were propelled by a low-priced version of its service that included commercials for the first time in its history. The company still is only getting a small fraction of its revenue from the 2-year-old advertising push, but Netflix is intensifying its focus on that segment of its business to help boost its profits.

In a letter to shareholder, Netflix reiterated previous cautionary notes about its expansion into advertising, though the low-priced option including commercials has become its fastest growing segment.

“We have much more work to do improving our offering for advertisers, which will be a priority over the next few years,” Netflix management wrote in the letter.

As part of its evolution, Netflix has been increasingly supplementing its lineup of scripted TV series and movies with live programming, such as a Labor Day spectacle featuring renowned glutton Joey Chestnut setting a world record for gorging on hot dogs in a showdown with his longtime nemesis Takeru Kobayashi.

Netflix will be trying to attract more viewer during the current quarter with a Nov. 15 fight pitting former heavyweight champion Mike Tyson against Jake Paul, a YouTube sensation turned boxer, and two National Football League games on Christmas Day.

The Canadian Press. All rights reserved.

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