Treasury Secretary Steven Kennedy paints grim picture as economy reels from pandemic

Treasury Secretary Dr Steven Kennedy has revealed a grim outlook for Australia's economy, warning growth contracted by 7 percent in the second quarter of this year. 

Dr Kennedy told the senate COVID-19 committee the forecast gross debt $852 billion this financial year is "entirely manageable" because of low interest rates. 

Dr Kennedy says household savings are 20 percent higher because of the massive emergency stimulus.

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Offshore call centres on life support as pandemic sees Westpac brings jobs home

One of the big casualties from the pandemic has been offshore call centres that Australian companies have been using in recent decades to reduce high local labour costs. 

Westpac has become the latest to company to bring call centre positions back home after operations in the Philippines and India were locked down under COVID-19 restrictions.

The rush to have calls picked up on shore in Australia is particularly important for banks which have been deluged by customers wanting to defer their loan repayments.

ABC's Peter Ryan speak with Westpac chief executive Peter King and Grant Custance, founder of workforce software provider Nimbus.