Prime Minister Scott Morrison has announced the second phase of the COVID‑19 Economic Recovery Plan, part of the upcoming 2021-2022 treasurer’s budget. In an address to the Business Council of Australia on April 19, Morrison said that the budget would build on the foundations of last year’s economic recovery plan—a plan that saw $98 billion (US$76 billion) in COVID-19 response measures and unemployment fall to 5.6 percent—lower than pre-pandemic levels. At the same time, the economy has recovered 85 percent of its COVID-induced losses. Morrison said that the new plan would prioritise aspects that stimulate business-led economic growth, placing businesses and the private sector at the forefront of a strong economic recovery. “(It’s) a plan that retains a clear focus on lower taxes, competitive policy settings for Australian industry, sensible industrial relations settings, deregulation, open trade, open markets,” Morrison said. Morrison also announced a $120 million deregulation package, emphasising that …