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New study highlights Indigenous Australians financial vulnerability as COVID-19 continues

Picture for representational purpose only. Source: AAP Image

According to a new report we are starting to see the devastating impact of what we already knew about financial vulnerability among Indigenous people.

The Centre for Social Impact (CSI) and First Nations Foundation released a new policy response to the COVID-19 disease to ensure Aboriginal and Torres Strait Islander people are kept financially safe over the coming months. 

Lead researcher Dr Megan Weier said that while COVID-19 has already had significant impacts on Australians, it is those most vulnerable including Indigenous communities that will feel the effects the most. 

“Crisis measures such as social distancing, business closures and worldwide economic stresses have led to an increase in unemployment - but it’s Indigenous people who are already experiencing high levels of financial stress who are going to be hardest hit by an economic recession,” Dr Weier said.   

“Stimulus packages should consider the impact of location when allocating stimulus payments. Where possible, community leaders and financial counsellors should be consulted to determine the priorities for government spending to help reduce economic stress.

 

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