Is an Australian life still worth AUD 4.2 Million? Forced shuttering of businesses, massive job losses, loss of wealth implies life is now worth less; Morrison Govt duty bound to ask taxpayers first before spending another cent on its Wuhan Virus stimulus

Ganesh Sahathevan



                                          Even the ABC is worried that things have changed 
                                          forever


An Australian life is worth $4.2 Million. That is the value of a statistical life, or the offical rate that guides Government policy in for example, the cost  of the stimulus and other measures that the Morrison Government is implementing to manage the economic impact of its Wuhan Virus/Covid-19 mitigation measures.


 The concept is summarised on the Commonwealth Department Of Prime Minister And Cabinet 
website:


Key Points:

• Willingness to pay is the appropriate way to estimate the value of reductions in the risk of physical harm – known as the value of statistical life.


• Based on international and Australian research a credible estimate of the value of statistical life is $4.2m and the value of statistical life year is $182 000 in 2014 dollars.


• There are complicating assumptions used to derive these estimates so a sensitivity analysis should be undertaken as part of the cost-benefit analysis.


Based on the above , it can be roughly estimated that Australians are prepared to pay, or rather let their government pay on their behalf, say $420 Billion to save 100,000 lives. This is the estimate that the Government ought to be relying on to determine the size of its Covid 19 economic and health package.

However, the Australian Government led by Scott Morrison has imposed on the country what is in effect a ban on trade, which it refers to as "hibernation".
In real terms there has been a forced shuttering of businesses, massive job losses and generally a loss of wealth. Consequently it is likely that the willingness to pay is now less than that $4.2 Million.
Put in another way, the ability to pay has fallen drastically, and that is more likely than not to have adversely affected the willingness to pay.

The  Morrison Government is  duty bound to ask taxpayers first before spending another cent on its Wuhan Virus stimulus. and on the health measures.

END



Comments

Post a Comment

Popular posts from this blog

Ben Robert-Smith : How was Justice Anthony Besanko of the Federal Court able to find that the crime of murder has a civil twin, which can be determined on a balance of probabilities

Image
 by Ganesh Sahathevam                                                                                                                  The Hon Justice Anthony Besanko Media reports about the Ben Robert-Smith defamation matter  have at least given the impression, if not asserted,  that Justice Anthony Besanko of the Federal Court found  that Robert-Smith had committed murder. Most if not all reports have been at pains to stress that the finding was based on a balance of probabilities, and not beyond a reasonable doubt, for the matter was a civil and not criminal matter.  However,  reading his summary one can immediately see that Justice Besanko  found not that Roberts-Smith had committed murder but that the " respondents had, (on  a balance of probabilities) established the substantial truth"  that  Roberts-Smith had committed murder.  However, murder is a  crime and a finding of murder in a criminal court (which is the court in which crimes like murder can be determined!) inv
Read more

Who authorised former NSW Police Commissioner Mick Fuller to say anything about the Berejiklian era quarantine fee and why? Fuller's notice confirms suspicion that NSW Berejiklian government had no basis to impose the quarantine fee, nor quarantine persons who were COVID negative 

Image
 by Ganesh Sahathevan      Premier Gladys Berejiklian with NSW Police Commissioner Mick Fuller and Brigadier Mick             Garraway Who authorised former  NSW Police Commissioner Mick Fuller  to say anything about the  Berejiklian era  quarantine fee and why? Fuller's issuance of his  COVID  quarantine notice, and subsequent silence, would seem to confirm suspicions raised on this blog that NSW's Berejiklian government had no basis to impose its quarantine fee. Fuller's conduct also adds to suspicion that the Berejiklian government did not have the authority, even under its COVID emergency powers, to quarantine persons who were COVID negative. International arrivals had to test negative for COVID before boarding their flights to Sydney, and tests had to be administered within 72 hours of departure. Quarantine on arrival of those who exhibited no COVID symptoms was quite likely unnecessary. It did, of course help bolster Gladys Berejiklian's approval ratings. TO BE RE
Read more

Revenue NSW COVID Quarantine Fee payment demand notices suggest that Police Commissioner Mick Fuller breached the law with his demand for quarantine fees

Image
 By Ganesh Sahathevan  Anyone who has received a Revenue NSW Quarantine Fee demand for payment notice  will be familiar with these words that are contained in the notice: What is the quarantine service fee? A mandatory quarantine service fee applies to all travellers arriving in New South Wales (NSW) who are required to quarantine as part of the public health order. Mandatory quarantine is needed to stop the spread. of COVID-19 in NSW The qurantine fee has been charged pursuant to Section 70 of  the NSW Health Act. However, as previously reported, that section does not permit any imposition of mandatory fees.  However, in apparent defiance of Section 70 of the Health Act, Fuller issued a notice   in which he said  that Revenue NSW " will be charging a mandatory quarantine fee". TOE BE READ WITH  Former NSW Police Commissioner Mick Fuller said in his notice that Revenue NSW " will be charging a mandatory quarantine fee" - Former NSW Ministers Hazzard, Tudehope insis
Read more